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Unitil has priced a spot secondary offering of 1.39M shares at $46.65, below the company's last closing price of $49.12. Wells Fargo and Scotiabank are acting as joint book running managers for the offering. The deal aims to raise funds for the company's operations and expansion plans.

Unitil Corporation (NYSE: UTL) has priced its secondary offering of 1,393,355 shares of common stock at $46.65 per share. This offering, which is expected to close on August 18, 2025, is below the company's last closing price of $49.12 [1].

Wells Fargo Securities, LLC and Scotia Capital (USA) Inc. are acting as joint bookrunning managers for the offering. The underwriters have been granted an option to purchase up to an additional 209,003 shares of common stock at the public offering price, less underwriting discounts and commissions [1].

The net proceeds from the offering will be used for several purposes, including making equity capital contributions to the company's regulated utility subsidiaries, repaying indebtedness under its Second Amendment to Third Amended and Restated Credit Agreement, and for general corporate purposes [1].

This secondary offering aims to raise funds for the company's ongoing operations and expansion plans. The offering will be made by means of a prospectus supplement under the company's effective registration statement on Form S-3ASR, as filed with the Securities and Exchange Commission [1].

Investors should note that this press release does not constitute an offer to sell or a solicitation of an offer to buy any securities. The preliminary prospectus supplement and the accompanying prospectus related to the offering will be available on the SEC's website [1].

References:
[1] https://www.globenewswire.com/news-release/2025/08/15/3134035/0/en/Unitil-Announces-Pricing-of-Common-Stock-Offering.html
[2] https://www.stocktitan.net/news/UTL/unitil-announces-common-stock-0lccf3ucp7gx.html