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Unitil closes common stock offering

Unitil Corp. completed its public offering of 690,000 common shares at $48.30 apiece, including 90,000 shares pursuant to the underwriters' overallotment option.

The company will use net proceeds of about $31.7 million to make equity capital contributions to its regulated utility subsidiaries, to repay short-term debt and for general corporate purposes, according to a Dec. 14 press release.

RBC Capital Markets LLC and Bank of America Merrill Lynch acted as joint book-running managers, while Janney Montgomery Scott LLC served as the sole co-manager.