Gas NaturalInc. said it filed a shelf registration statement on Form S-3 tooffer and sell up to $50 million of common stock, according to the company'sMarch 31 news release.
Gas Natural said that it has no specific plans offer thesecurities covered by the registration statement, nor is it required to offerthe securities in the future.
"While we do not have immediate plans for raising andusing this additional capital, we anticipate that it will afford more efficientaccess to the capital markets and allow us to act opportunistically in supportof our growth strategy," Gas Natural President and CEO Gregory Osbornesaid in a statement.
The common stock will be priced at the time of sale, if suchsale occurs. Once the shelf registration is declared effective by the U.S. SEC,Gas Natural may periodically offer the registered securities in one or moreoffering, the release said.