Type to search


Chesapeake Utilities issues common stock

Avatar photo

DOVER β€”Β  Chesapeake Utilities Corporation announced today the commencement of an underwritten public offering of its common stock, with an aggregate value not to exceed $52 million.

In conjunction with this offering, the company intends to grant the underwriters a 30-day option to purchase additional shares up to an additional $7.8 million in aggregate value.

The net proceeds from the 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.

Get the free DBT email newsletter  

Follow the people, companies and issues that matter most to business in Delaware.


You Might also Like

Leave a Comment

Your email address will not be published. Required fields are marked *

Premier Digital Partners

© 2023 Delaware Business Times