Chesapeake Utilities down on $330 mln public offering

Chesapeake Utilities

09/11/2023 15:20

** Shares of Chesapeake Utilities  CPK.N  fall 2.67% at
$85.72
    ** Co announces underwritten public offering of $330 mln
shares of common stock
    ** Says net proceeds from the offering will be used to fund,
in part, the acquisition of Florida City Gas - expected to close
in Q4 of 2023
    ** CPK also intends to offer underwriters an option to buy
additional shares up to $49.5 million
    ** Including session's losses, stock is down 27.27% YTD

 (Reporting by Roshia Sabu in Bengaluru)
 ((Roshia.Sabu@thomsonreuters.com))