RBC Capital Markets is bookrunner; deal has $9.09 million greenshoe
By Devika Patel
Knoxville, Tenn., May 11 - Unitil Corp. priced a $60.6 million public sale of stock with an $9.09 million greenshoe in a prospectus supplement filed Friday with the Securities and Exchange Commission.
The company will sell 2.4 million common shares at $25.25 apiece. The price per share is a 1.37% discount to the May 10 closing share price.
RBC Capital Markets is the bookrunning manager. Baird and Janney Montgomery Scott are senior co-managers and Brean Murray, Carret & Co. is the co-manager.
Settlement is expected May 16.
Proceeds will be used to make equity capital contributions to the company's utility subsidiaries, repay short-term debt and for general corporate purposes.
Unitil is a Hampton, N.H.-based public utility holding company.
| Issuer: | Unitil Corp.
|
| Issue: | Common shares
|
| Amount: | $60.6 million
|
| Greenshoe: | $9.09 million
|
| Shares: | 2.4 million
|
| Price: | $25.25
|
| Warrants: | No
|
| Bookrunner: | RBC Capital Markets
|
| Pricing date: | May 11
|
| Settlement date: | May 16
|
| Stock symbol: | NYSE: UTL
|
| Stock price: | $25.60 at close May 10
|
| Market capitalization: | $273.65 million
|
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