Unitil announces exercise and closing of option by underwriters

Hampton, n.h., sept. 08, 2021 (globe newswire) -- unitil corporation (nyse: utl) ( www.unitil.com ) announced today that its underwriters exercised and closed their option to purchase an additional 120,000 newly issued shares of its common stock in connection with its previously announced public offering pursuant to an effective shelf registration statement on form s-3 filed with the securities and exchange commission. including the 120,000 newly issued shares, unitil has sold 920,000 shares at a public offering price of $50.80 per share, resulting in expected net proceeds to unitil of approximately $44.5 million (after deducting the underwriting discount and its estimated offering expenses). unitil intends to use the net proceeds from this offering to make equity capital contributions to unitil's regulated utility subsidiaries, to repay debt and for general corporate purposes.
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