Greenshoe for $9.09 million fully exercised; RBC Capital is bookrunner
By Toni Weeks
San Diego, May 16 - Unitil Corp. said it raised $69.69 million in its public sale of stock. Of the amount, $9.09 million was from the fully exercised over-allotment option.
The company sold a total of 2.76 million common shares at $25.25 apiece, of which 360,000 shares comprised the greenshoe. The price per share is a 1.37% discount to the May 10 closing share price.
RBC Capital Markets was the bookrunning manager. Baird and Janney Montgomery Scott were senior co-managers, and Brean Murray, Carret & Co. was the co-manager.
Proceeds will be used to make equity capital contributions to the company's utility subsidiaries, to 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: | $69.6 million, including $9.09 million greenshoe
|
| Shares: | 2.76 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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