UTL

Public Offering Announcement: Unitil Corporation has completed a public offering of 1,602,358 shares of common stock at $46.65 per share, raising approximately $74.75 million.

Use of Proceeds: The funds will be used for equity contributions to utility subsidiaries, repaying existing debt, and general corporate purposes.

Underwriters Involved: Wells Fargo Securities and Scotia Capital acted as active bookrunners for the offering, with Janney Montgomery Scott serving as bookrunner.

Company Overview: Unitil Corporation provides electricity and natural gas in New England, serving over 109,400 electric customers and 97,600 natural gas customers across Maine, New Hampshire, and Massachusetts.

Public Offering Announcement: Unitil Corporation has priced a public offering of 1,393,355 shares of common stock at $46.65 per share, with the offering expected to close on August 18, 2025. The company plans to use the proceeds for equity contributions to its utility subsidiaries, debt repayment, and general corporate purposes.

Underwriters and Regulatory Information: Wells Fargo Securities and Scotia Capital are the active bookrunners for the offering, which is being made under an effective registration statement with the SEC. The press release includes forward-looking statements about potential risks and uncertainties affecting the company's future performance.

Financial Performance: Unitil Corporation reported a net income of $4.0 million for Q2 2025, a decrease from the previous year, while adjusted net income increased to $4.7 million due to higher rates and customer growth. For the first half of 2025, net income remained stable at $31.5 million.

Operational Insights: The company experienced increases in both electric and gas adjusted gross margins driven by customer growth and higher rates, despite rising operation and maintenance expenses. Unitil continues to focus on operational excellence and strategic acquisitions to enhance long-term value.