Chesapeake Utilities (CPK) Prices 835.2k Stock Offering at $62.26/Share

September 22, 2016 8:30 AM EDT

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Chesapeake Utilities Corporation (NYSE: CPK) 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



Telephone: (800) 326-5897

Telephone: (877) 822-4089

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