Chesapeake Utilities launches $225M at-the-market equity program

Chesapeake Utilities Corporation (NYSE: CPK) announced the establishment of an at-the-market equity offering program to sell up to $225 million of its common stock, according to a press release issued Oct. 1, 2026.

The shares will be offered under the company's existing shelf registration statement on Form S-3 filed with the Securities and Exchange Commission. Sales may be made directly on or through the New York Stock Exchange.

The company said it intends to use proceeds for general corporate purposes, including financing capital expenditures, repaying short-term debt or borrowings under its revolving credit facility, financing acquisitions, investing in subsidiaries, and general working capital.

The program was established through an equity distribution agreement with Barclays Capital Inc., Citizens JMP Securities LLC, Ladenburg Thalmann & Co. Inc., Morgan Stanley & Co. LLC, RBC Capital Markets LLC, and TD Securities (USA) LLC as managers. Barclays Bank PLC, Citizens JMP Securities LLC, Morgan Stanley & Co. LLC, Royal Bank of Canada, and The Toronto-Dominion Bank are named as forward purchasers.

Chesapeake Utilities is a diversified energy delivery company based in Dover, Del., offering natural gas transmission and distribution, electricity generation and distribution, propane gas distribution, and mobile compressed natural gas services.

You May Also Be Interested In

• Veritone launches $15M registered direct offering of common stock
• Quantum Computing Inc. unveils Dirac-3S with capacity for ~10,000 variables
• RenovoRx case series published on pancreatic cancer drug delivery