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South Jersey Industries to offer 6,500,000 shares of common stock

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South Jersey Industries to offer 6,500,000 shares of common stock

South Jersey IndustriesInc. intends to conduct a registered public offering of up to 6,500,000shares of its common stock, with underwriters given a 30-day overallotment optionfor an additional 975,000 shares.

South Jersey Industries expects to use the net proceeds fromthe offering for its CapEx, mainly for the company's regulated business, which includesinfrastructure investments in its utility segment, according to a May 10 news release.

J.P. Morgan, Morgan Stanley and Guggenheim Securities are actingas joint book runners for the offering, while Janney Montgomery Scott Sidoti &Co LLC, U.S. Capital Advisors and The Williams Capital Group LP are acting as co-managers.