Unitil Prices Public Offering of Common Stock
(NYSE: UTL) today announced that it priced a public offering of 2.0 million
newly issued shares of common stock at a public offering price of
share. Unitil has also granted the underwriters a 30-day option to purchase
up to an additional 300,000 shares to cover any over-allotments.
The net proceeds from this offering will be used to repay a portion of the
bank financing for Unitil’s acquisition of Northern Utilities and Granite
State Gas Transmission which closed on
RBC Capital Markets Corporation is acting as lead underwriter for the
offering. The co-managers for the offering are Janney Montgomery Scott LLC.,
Oppenheimer & Co. Inc.,
A copy of the final prospectus supplement and the accompanying base
prospectus relating to this offering may also be obtained from RBC Capital
Markets Corporation, 3 World Financial Center, 8th Floor, 200 Vesey Street,
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not constitute an
offer, solicitation or sale in any jurisdiction in which such offering would
be unlawful. The offer is being made only through the prospectus supplement
and the accompanying base prospectus, which is part of a registration
statement that became effective on
About Unitil
Unitil is a public utility holding company with subsidiaries providing
electric and gas distribution service in
distribution service in
Unitil has approximately 430 employees and serves approximately 167,000
utility customers in three states. Its utility affiliates include Unitil
Energy Systems, Inc., Fitchburg Gas and Electric Light Company, Northern
Utilities, Inc. and Granite State Gas Transmission, Inc. Its other
subsidiaries include Unitil Service Corp. and its non-regulated business
segment Unitil Resources, Inc. Usource L.L.C. is a subsidiary of Unitil
Resources, Inc.
Forward Looking Statements:
This press release contains forward-looking statements, which are subject
to the inherent uncertainties in predicting future results and conditions. All
statements, other than statements of historical fact, are forward-looking
statements. Certain factors that could cause the actual results to differ
materially from those projected in these forward-looking statements include,
but are not limited to the following: variations in weather; changes in the
regulatory environment; customers’ preferences on energy sources; general
economic conditions; increased competition; fluctuations in supply, demand,
transmission capacity and prices for energy commodities; and other
uncertainties, all of which are difficult to predict, and many of which are
beyond the control of Unitil Corporation.
Contact:
George Gantz
603-773-6569
gantz@unitil.com
SOURCE Unitil Corporation