secwatch.observer — SEC 8-K summary
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Issuer:     UNITIL CORP (UTL)
CIK:        0000755001
Form:       8-K
Filed at:   2024-07-12T23:59:59+00:00
Accession:  0001193125-24-178604
Event type: m_and_a
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Unitil to acquire Bangor Natural Gas for $70.9M; expects close by Q1 2025
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- Purchase price of $70.9M in cash (debt-free basis, subject to working capital adjustments).
- Bangor serves ~8,500 customers in Maine with 351 miles of distribution pipelines.
- Enterprise value ~1.2x Bangor's estimated 2023 rate base.
- Committed $71M senior unsecured term loan from Scotiabank; 65% debt-to-cap covenant.
- Transaction requires Maine PUC approval; expected to close by end of Q1 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/755001/000119312524178604/0001193125-24-178604-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/755001/000119312524178604/d786482d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-178604

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer