June 24, 2009
Unitil Underwriters Exercise Share Option
By Matthew L. Brown
Unitil Corp., the Hampton, N.H.-based public utility holding company that distributes electricity and natural gas to several towns in northern Worcester County, said it plans to sell 300,000 shares of the company's common stock.
The company's underwriters have exercised an over-allotment option to purchase the shares.
Unitil granted an over-allotment option in May in connection with its public offering of 2.4 million shares.
That offering generated proceeds of $51.2 million the company used to pay off credit facilities and the previous acquisitions of Northern Utilities Inc. and Granite State Gas Transmission Inc.
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