DOVER, Del., Sept. 22, 2016 /PRNewswire/ -- Chesapeake
Utilities Corporation (NYSE: CPK) today announced the pricing of an
underwritten public offering of 835,207 shares of its common stock,
at a price to the public of $62.26
per share. In connection with the offering, Chesapeake
granted the underwriters involved in the offering with a 30-day
option to purchase up to an additional 125,281 shares of its common
stock. The offering is expected to close on September 27, 2016, subject to customary closing
conditions.
The net proceeds from the equity offering will be used to pay
down a portion of the Company's short-term revolving debt, which
has increased as a result of capital investments to support
growth.
Wells Fargo Securities and RBC Capital Markets are acting as
joint book-running managers. Janney Montgomery Scott and Baird are acting as
senior co-managers. J.J.B.
Hilliard, W.L. Lyons, LLC,
Ladenburg Thalmann, U.S. Capital Advisors and BB&T Capital
Markets are acting as co-managers of the offering.
This offering is being made under an effective shelf
registration statement filed with the U.S. Securities and Exchange
Commission, and only by means of a prospectus supplement for this
offering and a related base prospectus. Copies of the
prospectus supplement and related base prospectus may be obtained
by contacting:
Wells Fargo
Securities
|
RBC Capital
Markets
|
Attention:
Equity Syndicate Department
|
Attn: Equity
Syndicate
|
375 Park
Avenue
|
200 Vesey Street,
8th
Floor
|
New York, NY
10152
|
New York, NY
10281-8098
|
Email:
cmclientsupport@wellsfargo.com
|
Email:
equityprospectus@rbccm.com
|
Telephone: (800)
326-5897
|
Telephone:
(877) 822-4089
|
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, shares of Chesapeake Utilities
Corporation common stock, nor shall there be any sale of these
securities in any jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. The
offering will be made only by means of prospectus supplement and
accompanying prospectus, each of which is part of an effective
shelf registration statement filed by Chesapeake Utilities
Corporation with the Securities and Exchange Commission.
About Chesapeake Utilities Corporation
Chesapeake Utilities Corporation is a diversified energy company
engaged in natural gas distribution, transmission, gathering and
processing; and marketing; electricity distribution; propane gas
distribution and wholesale marketing; and other related
services.
Please note that Chesapeake Utilities Corporation has no
affiliation with Chesapeake Energy, an oil and natural gas
exploration company headquartered in Oklahoma City, Oklahoma.
Forward Looking Statements
The prospectus supplement may include forward-looking
statements. All statements, other than historical facts
included or incorporated her that address activities, events or
developments that we expect of anticipate will or may occur in the
future, including such things as the completion, timing, size
proceeds and the use of proceeds for the proposed offering, are
forward-looking statements. All forward-looking statements
speak only as of the date of the prospectus supplement.
Although we believe that the plans, intentions and expectations
reflected in or suggested by the forward-looking statements are
reasonable, there is no assurance that these plans, intentions or
expectations will be achieved. Therefore, actual outcomes and
results could materially differ from what is expressed, implied or
forecast in such statements.
For more information, contact:
Beth W. Cooper
Senior
Vice President & Chief Financial Officer
302.734.6022
Thomas E. Mahn
Treasurer
302.736.7656
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SOURCE Chesapeake Utilities Corporation