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RGC Resources Announces $15M At-The-Market Common Stock Offering

RGC Resources, Inc. (NASDAQ:RGCO) announced today that is has established an “at-the-market” (“ATM”) offering program under which it may issue and sell to the public, from time to time, up to $15

Benzinga · 03/05/2020 21:46

RGC Resources, Inc. (NASDAQ:RGCO) announced today that is has established an “at-the-market” (“ATM”) offering program under which it may issue and sell to the public, from time to time, up to $15 million of its common stock through Janney Montgomery Scott LLC, in its capacity as sales agent (the “Agent”).

Sales of common stock under the ATM program, if any, will be made by any method deemed to be an “at-the-market” offering as defined in Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”), including sales made directly on or through the NASDAQ Global Market or sales made to or through a market maker or through an electronic communications network. The volume and timing of any sales under the ATM program will be determined at the Company’s discretion, subject to acceptance by the Agent.

Resources intends to use the net proceeds from any sales of its common stock under the ATM program to finance capital expenditures and for other general corporate purposes which may include reducing indebtedness or funding future acquisitions of, or investments in, assets or businesses.