Chesapeake Utilities to pay down revolving debt via stock proceeds

By Marisa Wong

Morgantown, W.Va., Sept. 21 – Chesapeake Utilities Corp. said it plans to pay down a portion of its short-term revolving debt using proceeds from an offering of common stock.

The company’s short-term revolving debt has increased as a result of capital investments to support growth, according to a press release.

The Dover, Del.-based energy company announced an up to $52 million public offering of common stock on Wednesday.

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