Chesapeake Utilities to launch $52M share offering

• Chesapeake Utilities (NYSE:CPK) -2% AH after announcing a public offering of common stock with an aggregate value not to exceed $52M, with an underwriters option to purchase up to an additional $7.8M of shares.
• CPK says it plans to use the proceeds to pay down part of its short-term revolving debt, which has increased as a result of capital investments to support growth.