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Unitil to launch common offering

Unitil Corp. plans to launch a public offering of 600,000 common shares with a 30-day option to underwriters for an additional 90,000 shares.

The company intends to use the sale proceeds to make equity capital contributions to its regulated utility subsidiaries, to repay short-term debt and for general corporate purposes, according to a Dec. 11 release.

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 sole co-manager.