secwatch.observer — SEC 8-K summary
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Issuer:     UNITIL CORP (UTL)
CIK:        0000755001
Form:       8-K
Filed at:   2025-11-03T23:59:59+00:00
Accession:  0001193125-25-262797
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 8.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Unitil completes acquisition of Maine Natural Gas for $86M plus ~$7.1M working capital
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- Purchase price $86.0M plus ~$7.1M for working capital; funded via $86M term loan from Scotiabank.
- Maine Natural serves ~6,300 natural gas customers in Greater Portland and Augusta, ME; rate base ~$69.0M as of Dec 2024.
- Unitil now serves ~213,300 customers across ME, NH, MA; acquisition complements existing gas distribution in Maine.
- Credit Agreement with Scotiabank: $86M limit, due Oct 2026, interest at Term SOFR + 1.25% or prime + 0.25%, financial covenant: funded debt to capitalization ≤65%.
- Transition Services Agreement with Avangrid for up to 12 months to ensure operational continuity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/755001/000119312525262797/0001193125-25-262797-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/755001/000119312525262797/d38770d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-262797

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