Janney Acts as a Joint Book-Running Manager in RGC Resources' $16.1 Million Follow-on Offering
RGC priced an underwritten public offering of 700,000 shares at $23.00 per share, inclusive of shares sold pursuant to the exercise of an overallotment option. The Company intends to use the net proceeds from this offering for general corporate purposes and to fund capital expenditures and a portion of the Company's required contributions to Mountain Valley Pipeline, LLC. In the interim, the Company may use the net proceeds, or a portion thereof, to repay certain debt, including amounts outstanding under its revolving line of credit.
About RGC Resources Inc.:
RGC Resources, Inc. ("RGC" or the "Company") provides energy and related products and services to customers in Virginia through its operating subsidiary Roanoke Gas Company. It also holds an equity investment in the Mountain Valley Pipeline project through its subsidiary RGC Midstream, LLC
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