Unitil Corp. on Dec. 12 priced its previously announced public offering of 600,000 common shares at $48.30 apiece for gross proceeds of nearly $29.0 million.
The company also granted a 30-day option to underwriters for an additional 90,000 shares. The offering is expected to close Dec. 14.
The proceeds will be used to make equity capital contributions to the company's regulated utility subsidiaries, to repay short-term debt and for general corporate purposes.
RBC Capital Markets LLC and Bank of America Merrill Lynch are acting as joint book-running managers, while Janney Montgomery Scott LLC is acting as the co-manager.
