Deal Details
Follow-On Offering
Summary
Baird served as a senior co-manager on this offering
About
Chesapeake Utilities Corporation (“Chesapeake” or the “Company”) (NYSE:CPK), recently completed a follow-on offering of 960,488 shares of common stock at a price of $62.26 per share, generating gross proceeds of approximately $60 million. The Company intends to use the net proceeds from this offering to reduce its short-term debt balance, which has increased in conjunction with recent capex deployments, as well as for general corporate purposes.Chesapeake Utilities Corporation is a diversified energy company engaged in natural gas distribution, transmission, marketing, gathering and processing; electricity distribution and generation; propane gas distribution and wholesale marketing; and other related services. Chesapeake is headquartered in Dover, Delaware.
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- Date
- September 2016
- Company
- Chesapeake Utilities Corporation
- Transaction
- M&A
- Sectors
- Energy
- Target Geography
- North America
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