Unitil announces pricing of public offering of common stock
December 12 2017 - 8:19AM
Unitil Corporation (NYSE:UTL) (www.unitil.com) announced today that
it priced a public offering of 600,000 newly issued shares of
common stock at a public offering price of $48.30 per share.
Unitil has also granted the underwriters a 30-day option to
purchase up to an additional 90,000 shares. Net proceeds from
this offering 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. This offering, which is subject to
customary closing conditions, is expected to close on December 14,
2017.
RBC Capital Markets, LLC and BofA Merrill Lynch are acting as
joint book-running managers of the offering. Janney Montgomery
Scott LLC is acting as co-manager.
A copy of the final prospectus supplement and the accompanying
prospectus relating to this offering will be available at
www.sec.gov and also may be obtained from:
RBC Capital Markets,
LLC200 Vesey StreetNew York, NY 10281Attention: Equity
SyndicatePhone: 877-822-4089Email:
equityprospectus@rbccm.com |
|
BofA Merrill
LynchNC1-004-03-43200 North College Street, 3rd floorCharlotte, NC
28255-0001Attention: Prospectus DepartmentEmail:
dg.prospectus_requests@baml.com |
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 WestHampton, New Hampshire
03842www.unitil.com 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.
Forward-Looking Statements
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 RelationsPhone: 603-773-6499Email:
chong@unitil.com
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