Unitil prices 1.39 million share offering at $46.65 each

Unitil Corporation (NYSE: UTL) priced a public offering of 1,393,355 shares of common stock at $46.65 per share, the Hampton, New Hampshire-based utility company announced. The offering is expected to close on August 18, 2025, subject to customary closing conditions.

The company granted underwriters an option to purchase up to an additional 209,003 shares at the public offering price, less underwriting discounts and commissions.

Unitil stated it intends to use net proceeds to make equity capital contributions to its regulated utility subsidiaries, repay debt under its credit agreement dated January 29, 2025, and for general corporate purposes. The credit agreement involves Bank of America as administrative agent and other named lenders.

Wells Fargo Securities and Scotia Capital (USA) Inc. are serving as active bookrunners for the offering, while Janney Montgomery Scott is acting as bookrunner.

The offering is being conducted through a prospectus supplement under the company's effective registration statement on Form S-3ASR filed with the Securities and Exchange Commission.

Unitil operates as a public utility holding company serving approximately 109,400 electric customers and 97,600 natural gas customers across Maine, New Hampshire and Massachusetts.

You May Also Be Interested In

• Matinas BioPharma to merge with GH Power, sell drug unit to Azurity
• Light & Wonder to report Q2 results Aug. 4, reaffirms FY26 outlook
• Fermi board member quits over $375M convertible note offering