Chesapeake Utilities Announces Public Offering of $330 Million of Shares of Common Stock
Summary
DOVER, DELAWARE Chesapeake Utilities Corporation (NYSE: CPK) today announced the commencement of an underwritten public offering of $330,000,000 of shares of its common stock. Chesapeake also intends to grant the underwriters of the offering a 30-day option to purchase up to $49,500,000 of additional shares of the Companys common stock. The net proceeds from the offering will be used to fund, in part, the acquisition of Florida City Gas, which is expected to close in the fourth quarter of 2023, and to pay related fees and expenses.Barclays Capital Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC are acting as joint lead book-running managers for the offering.A preliminary prospectus supplement and accompanying prospectus relating to the common stock offered will be filed with the U.S. Securities and Exchange Commission (SEC) and will be available on the SECs website at www.sec.gov. These factors and risks include, but are not limited to, unanticipated developments that could prevent, delay or negatively impact the amount of, timing of, or the completion of, the offering and the occurrence of any event, change or other circumstance that could cause the acquisition not to close in the anticipated timeframe or at all due to one or more of the closing conditions to the transaction not being satisfied or waived. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.