Chesapeake Utilities (CPK) Announces $52M Common Stock Offering
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Chesapeake Utilities Corporation (NYSE: CPK) announced 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.
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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Create E-mail Alert Related CategoriesEquity Offerings
Related EntitiesRobert W Baird, RBC Capital, Janney Montgomery Scott, BB&T Capital Markets, Ladenburg Thalmann Financial Services, Wells Fargo, Equity Offerings
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