Chesapeake Utilities (CPK) Announces $52M Common Stock Offering

September 21, 2016 4:19 PM EDT

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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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