HAMPTON, N.H., Dec. 14, 2017 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) (www.unitil.com) announced today that it has closed on the Company's public offering of an aggregate of 690,000 newly issued shares of common stock, including 90,000 shares of common stock pursuant to the underwriters’ option to purchase additional shares of common stock, which priced on December 12, 2017 at $48.30 per share. The total net proceeds of approximately $31.7 million will be used to make equity capital contributions to Unitil’s regulated utility subsidiaries (primarily to its regulated natural gas subsidiary), to repay short-term debt and for general corporate purposes.
RBC Capital Markets, LLC and BofA Merrill Lynch acted as joint book-running managers of the offering. Janney Montgomery Scott LLC acted as co-manager.
A copy of the final prospectus supplement and the accompanying prospectus relating to this offering is available at www.sec.gov and also may be obtained from:
|RBC Capital Markets, LLC|
200 Vesey Street
New York, NY 10281
Attention: Equity Syndicate
|BofA Merrill Lynch|
200 North College Street, 3rd floor
Charlotte, NC 28255-0001
Attention: Prospectus Department
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and there will not be any sales in any jurisdiction in which such sales would be unlawful. The offer is being made only through the prospectus supplement and the accompanying prospectus, which is part of a registration statement that became effective on December 8, 2017.
6 Liberty Lane West
Hampton, New Hampshire 03842
Ph: 603-772-0775 Fax: 603-773-6605
About Unitil Corporation
Unitil Corporation provides energy for life by safely and reliably delivering natural gas and electricity in New England. We are committed to the communities we serve and to developing people, business practices, and technologies that lead to the delivery of dependable, more efficient energy. Unitil Corporation is a public utility holding company with operations in Maine, New Hampshire and Massachusetts. Together, Unitil’s operating utilities serve approximately 105,000 electric customers and 80,000 natural gas customers. Other subsidiaries include Usource, Unitil’s non-regulated business segment.
This press release may contain forward-looking statements. All statements, other than statements of historical fact, included in this press release are forward-looking statements. Forward-looking statements include declarations regarding Unitil’s beliefs and current expectations. These forward-looking statements are subject to the inherent risks and uncertainties in predicting future results and conditions that could cause the actual results to differ materially from those projected in these forward-looking statements. Some, but not all, of the risks and uncertainties include the following: Unitil’s regulatory environment (including regulations relating to climate change, greenhouse gas emissions and other environmental matters); fluctuations in the supply of, the demand for, and the prices of, gas and electric energy commodities and transmission and transportation capacity and Unitil’s ability to recover energy supply costs in its rates; customers’ preferred energy sources; severe storms and Unitil’s ability to recover storm costs in its rates; general economic conditions; variations in weather; long-term global climate change; Unitil’s ability to retain its existing customers and attract new customers; increased competition; and other risks detailed in Unitil’s filings with the Securities and Exchange Commission. These forward looking statements speak only as of the date they are made. Unitil undertakes no obligation, and does not intend, to update these forward-looking statements, except as required by law.
For more information please contact:
David Chong – Investor Relations