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HAMPTON, N.H., Dec. 11, 2017 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) (www.unitil.com) announced today that it plans to make an underwritten public offering of 600,000 newly issued shares of common stock pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission. Unitil also plans to grant the underwriters a 30-day option to purchase up to an additional 90,000 shares. Net proceeds from this offering are expected to be used to make equity capital contributions to Unitil’s regulated utility subsidiaries (primarily to its regulated natural gas subsidiary), to repay short-term debt and for general corporate purposes.

RBC Capital Markets, LLC and BofA Merrill Lynch will act as joint book-running managers of the offering. Janney Montgomery Scott LLC is acting as co-manager.

A copy of the preliminary prospectus supplement and the accompanying prospectus relating to this offering is available at www.sec.gov and also may be obtained from:  

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and there will not be any sales in any jurisdiction in which such sales would be unlawful. The offer is being made only through the prospectus supplement and the accompanying prospectus, which is part of a registration statement that became effective on December 8, 2017.

6 Liberty Lane West
Hampton, New Hampshire 03842
www.unitil.com
Ph: 603-772-0775  Fax: 603-773-6605

About Unitil Corporation

Unitil Corporation provides energy for life by safely and reliably delivering natural gas and electricity in New England. We are committed to the communities we serve and to developing people, business practices, and technologies that lead to the delivery of dependable, more efficient energy. Unitil Corporation is a public utility holding company with operations in Maine, New Hampshire and Massachusetts. Together, Unitil’s operating utilities serve approximately 105,000 electric customers and 80,000 natural gas customers. Other subsidiaries include Usource, Unitil’s non-regulated business segment.

Forward-Looking Statements

This press release may contain forward-looking statements. All statements, other than statements of historical fact, included in this press release are forward-looking statements. Forward-looking statements include declarations regarding Unitil’s beliefs and current expectations. These forward-looking statements are subject to the inherent risks and uncertainties in predicting future results and conditions that could cause the actual results to differ materially from those projected in these forward-looking statements. Some, but not all, of the risks and uncertainties include the following: Unitil’s regulatory environment (including regulations relating to climate change, greenhouse gas emissions and other environmental matters); fluctuations in the supply of, the demand for, and the prices of, gas and electric energy commodities and transmission and transportation capacity and Unitil’s ability to recover energy supply costs in its rates; customers’ preferred energy sources; severe storms and Unitil’s ability to recover storm costs in its rates; general economic conditions; variations in weather; long-term global climate change; Unitil’s ability to retain its existing customers and attract new customers; increased competition; and other risks detailed in Unitil’s filings with the Securities and Exchange Commission. These forward looking statements speak only as of the date they are made. Unitil undertakes no obligation, and does not intend, to update these forward-looking statements, except as required by law.

For more information please contact:                                                                                                                                             

David Chong – Investor Relations
Phone: 603-773-6499
Email:  chong@unitil.com

Source: UNITIL Corporation