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CHESAPEAKE UTILITIES CORPORATION ANNOUNCES $225 MILLION AT-THE-MARKET (ATM) EQUITY OFFERING PROGRAM

CPK
  • Chesapeake Utilities Corporation established an at-the-market equity offering program to sell up to $225,000,000 in common stock.
  • Shares will be sold through Managers or Forward Sellers via an existing shelf registration statement on Form S-3 filed with the SEC.
  • Sales may occur through at-the-market offerings defined under Rule 415, including transactions on the New York Stock Exchange.
  • The company intends to use proceeds for general corporate purposes, including capital expenditures, debt repayment, acquisitions, subsidiary investments, & working capital.
  • The equity distribution agreement was entered into with Barclays Capital Inc., Citizens JMP Securities, LLC, Ladenburg Thalmann & Co. Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, & TD Securities (USA) LLC as Managers.
  • Forward Purchasers include Barclays Bank PLC, Citizens JMP Securities, LLC, Morgan Stanley & Co. LLC, Royal Bank of Canada, & The Toronto-Dominion Bank.
  • Forward Sellers consist of Barclays Capital Inc., Citizens JMP Securities, LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, & TD Securities (USA) LLC.
  • Investors can access the prospectus & prospectus supplement for free via the SEC's EDGAR website or by contacting Barclays Capital Inc. directly.
  • Chesapeake Utilities is a diversified energy delivery company listed on the NYSE providing natural gas, electricity, propane, & compressed natural gas services.
  • Noah T. Russell serves as Assistant Vice President and Treasurer, & Lucia Dempsey serves as Head of Investor Relations for the company.