---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-286726"
form_type: "8-K"
ticker: "CPK"
cik: "0000019745"
company_name: "CHESAPEAKE UTILITIES CORP"
filed_at: "2023-12-01T23:59:59+00:00"
generated_at: "2026-06-07T19:37:14.607649+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Chesapeake Utilities completes $923.4M acquisition of Florida City Gas from FPL

## Summary
- Purchase price ~$923.4M cash; funded via $550M senior notes, equity offering, and revolving credit facility.
- Acquisition more than doubles CPK's Florida customer base and natural gas infrastructure; covers five top-population counties.
- Regulated operations now ~87% of business mix; 5-year capex plan raised 65% to $1.5-1.8B with ~60% in Florida.
- Company reaffirms long-term earnings and dividend growth targets; integration details expected in Q4 2023 earnings call.
- CEO Jeff Householder and CFO Beth Cooper highlight strategic value, balance sheet strength, and disciplined financing.

## SEC filing metadata
- accession: 0001193125-23-286726
- form_type: 8-K
- ticker: CPK
- cik: 0000019745
- company_name: CHESAPEAKE UTILITIES CORP
- filed_at: 2023-12-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/19745/000119312523286726/0001193125-23-286726-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/19745/000119312523286726/d848856d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-286726
- JSON: https://secwatch.observer/filing/0001193125-23-286726.json
- Plain text: https://secwatch.observer/filing/0001193125-23-286726.txt

## Key facts
- M&A Transactions
  CHESAPEAKE UTILITIES CORP completed an acquisition involving Florida Power & Light Company (selling Pivotal Utility Holdings, Inc./Florida City Gas) for approximately $923.4 million in cash (closed 2023-11-30).
  - Action: acquisition
  - Counterparty: Florida Power & Light Company (selling Pivotal Utility Holdings, Inc./Florida City Gas)
  - Consideration: approximately $923.4 million in cash
  - Closing: 2023-11-30
  source text: dated as of September 26, 2023, by and among the Company and Florida Power & Light Company, a Florida corporation. The purchase price for the Acquisition was approximately $923.4 million in cash, subject to customary purchase price adjustments. The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by
  evidence_url: https://www.sec.gov/Archives/edgar/data/19745/000119312523286726/0001193125-23-286726-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.