Chesapeake Utilities Corporation has entered into an Equity Distribution Agreement to sell up to $225 million of its common stock through an at-the-market (ATM) program. The agreement, dated September 30, 2026, was executed with a group of financial institutions acting as managers, forward purchasers, and forward sellers. The offering is being made under the Company's existing shelf registration statement on Form S-3 (File No. 333-299198).
The Company may sell shares through the Managers or the Forward Sellers. Sales may be executed on the New York Stock Exchange or through other market transactions. The offering includes the possibility of entering into forward sale agreements, where the Company may receive proceeds upon future physical settlement or owe cash or shares in the event of cash or net share settlement.
Chesapeake Utilities intends to use the net proceeds from the sales for general corporate purposes. These purposes include financing capital expenditures, repaying short-term debt or borrowings under its revolving credit facility, financing acquisitions, investing in subsidiaries, and funding general working capital.
