DOVER,
Del., Nov. 22, 2024 /PRNewswire/ -- Chesapeake
Utilities Corporation (NYSE: CPK) ("Chesapeake Utilities" or the
"Company") today announced that it has established an at-the-market
equity offering program (the "ATM Program") under which it may,
from time to time, sell shares of its common stock having an
aggregate sales price of up to $100,000,000 (the "Shares"). Chesapeake Utilities
has entered into an equity distribution agreement with each of RBC
Capital Markets, LLC, Barclays Capital Inc., Janney Montgomery
Scott LLC, Ladenburg Thalmann & Co. Inc., Guggenheim
Securities, LLC, Citizens JMP Securities, LLC, M&T Securities,
Inc., Maxim Group LLC, PNC Capital Markets LLC, and Siebert Williams Shank & Co., LLC
(collectively, the "Sales Agents"), as sales agents. Pursuant to
the equity distribution agreement, sales of the Shares may be made
in transactions deemed to be "at-the-market offerings," as defined
in Rule 415 under the Securities Act of 1933, as amended, including
by sales made directly on or through the New York Stock Exchange.
Chesapeake Utilities intends to use the proceeds from the sales, if
any, of the Shares for general corporate purposes, including, but
not limited to, financing of capital expenditures, repayment of
short-term debt, financing acquisitions, investing in subsidiaries,
and general working capital purposes.
The Shares will be offered under the Company's existing shelf
registration statement on Form S-3ASR (File No.: 333-274284) filed
with the Securities and Exchange Commission (the "SEC"). The
offering is being made by means of a prospectus supplement to the
prospectus contained in the registration statement. Before making
an investment in the Shares, potential investors should read the
prospectus and the prospectus supplement for more complete
information about Chesapeake Utilities and the offering. Potential
investors may obtain these documents for free by visiting EDGAR on
the SEC's website at www.sec.gov. Alternatively, the Company or the
Sales Agents will arrange, upon request, to send the prospectus.
Please direct requests to: RBC Capital Markets, LLC by mail at 200
Vesey Street, 8th Floor, New York,
NY 10281-8098, attention: Equity Syndicate, by email at
equityprospectus@rbccm.com or by telephone at 877-822-4089.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities, in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
other jurisdiction.
Forward-Looking Statements
Matters included in this release may include forward-looking
statements that involve risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements.
Please refer to the Safe Harbor for Forward-Looking Statements in
the Company's 2023 Annual Report on Form 10-K and Quarterly Report
on Form 10-Q for the third quarter of 2024 for further information
on the risks and uncertainties related to the Company's
forward-looking statements.
About Chesapeake Utilities Corporation
Chesapeake Utilities Corporation is a diversified energy
delivery company, listed on the New York Stock Exchange. Chesapeake
Utilities Corporation offers sustainable energy solutions through
its natural gas transmission and distribution, electricity
generation and distribution, propane gas distribution, mobile
compressed natural gas utility services and solutions, and other
businesses.
Contacts:
Investors
Beth W. Cooper
Executive Vice President, Chief Financial Officer, Treasurer and
Assistant Corporate Secretary
302.734.6022
Michael D. Galtman
Senior Vice President and Chief Accounting Officer
302.217.7036
Noah T. Russell
Assistant Vice President and Assistant Treasurer
302.387.9147
Media
Alexander
Nye
Director, Strategic Communications
727.754.0136
ANye@chpk.com
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SOURCE Chesapeake Utilities Corporation
