HAMPTON, N.H., Dec. 11, 2017 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) (www.unitil.com) announced today that it plans to make an underwritten public offering of 600,000 newly issued shares of common stock pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission. Unitil also plans to grant the underwriters a 30-day option to purchase up to an additional 90,000 shares. Net proceeds from this offering are expected to be used to make equity capital contributions to Unitil’s regulated utility subsidiaries (primarily to its regulated natural gas subsidiary), to repay short-term debt and for general corporate purposes.

RBC Capital Markets, LLC and BofA Merrill Lynch will act as joint book-running managers of the offering. Janney Montgomery Scott LLC is acting as co-manager.

About Unitil Corporation

Unitil Corporation provides energy for life by safely and reliably delivering natural gas and electricity in New England. We are committed to the communities we serve and to developing people, business practices, and technologies that lead to the delivery of dependable, more efficient energy. Unitil Corporation is a public utility holding company with operations in Maine, New Hampshire and Massachusetts. Together, Unitil’s operating utilities serve approximately 105,000 electric customers and 80,000 natural gas customers. Other subsidiaries include Usource, Unitil’s non-regulated business segment.