secwatch.observer — SEC 8-K summary
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Issuer:     CHESAPEAKE UTILITIES CORP (CPK)
CIK:        0000019745
Form:       8-K
Filed at:   2023-09-27T23:59:59+00:00
Accession:  0001193125-23-243016
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chesapeake Utilities to acquire Florida City Gas for $923.4M cash, expanding FL footprint
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- Acquisition of ~120,000-customer FCG from NextEra Energy (NEE) for $923.4M cash; close expected Q4 2023.
- Financing via debt and equity; $965M committed bridge facility from Barclays tied to closing.
- Doubles CPK's Florida natural gas ops; regulated net plant +30%, customers +50%.
- New capex guidance $1.5-$1.8B (2024-2028); EPS guided $7.75-$8.00 for 2028 (~8% CAGR).
- Adds ~$500M of investment opportunities over 5 years; regulated business mix rises to 87%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/19745/000119312523243016/0001193125-23-243016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/19745/000119312523243016/d483703d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-243016

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