Gas Natural Inc. Announces Exercise and Closing of Over-Allotment Option for
Recent Common Stock Offering
MENTOR, Ohio, July 12, 2012
MENTOR, Ohio, July 12, 2012 /PRNewswire/ -- Gas Natural Inc. (NYSE MKT: EGAS)
(the "Company"), a natural gas utility company serving approximately 70,000
customers in seven states, announced that the underwriters of the recent
public offering of its common stock have fully exercised their over-allotment
option and have purchased an additional 100,000 shares from the Company's
Chairman and Chief Executive Officer, Richard M. Osborne, at a price of $10.10
per share. The Company did not receive any proceeds from the sale of shares by
Mr. Osborne. The over-allotment option was granted by Mr. Osborne in
conjunction with the underwritten public offering completed on July 2, 2012.
Janney Montgomery Scott LLC served as sole book-running manager for the
offering. A copy of the final prospectus related to the offering can be
obtained by contacting Janney Montgomery Scott LLC, 60 State Street, Boston,
MA 02109, Attention: Equity Syndicate Department or via email at
A registration statement relating to these securities has been filed with and
declared effective by the U.S. Securities and Exchange Commission.
About Gas Natural Inc.
Gas Natural Inc. distributes and sells natural gas to end-use residential,
commercial, and industrial customers. It distributes approximately 32 billion
cubic feet of natural gas to approximately 70,000 customers through regulated
utilities operating in Montana, Wyoming, Ohio, Pennsylvania, Maine, North
Carolina and Kentucky. The Company's other operations include interstate
pipeline, natural gas production, propane and natural gas marketing. The
Company's Montana public utility was originally incorporated in 1909. Its
strategy for growth is to expand throughput in the Maine and North Carolina
markets while looking for acquisitions that are either adjacent to its
existing utilities or in under saturated markets.
The Company's toll-free number is 800-570-5688. Gas Natural Inc. regularly
posts information on its website at www.ewst.com.
Safe Harbor Regarding Forward-Looking Statements
The Company is including the following cautionary statement in this release to
make applicable and to take advantage of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 for any forward-looking
statements made by, or on behalf of, Gas Natural Inc. Forward-looking
statements are all statements other than statements of historical fact,
including, without limitation, those that are identified by the use of the
words "anticipates," "estimates," "expects," "intends," "plans," "predicts,"
"believes" and similar expressions. Such statements are inherently subject to
a variety of risks and uncertainties that could cause actual results to differ
materially from those expressed. Factors that may affect forward-looking
statements and the Company's business generally include but are not limited to
the Company's ability to successfully integrate the operations of the
companies it has recently acquired and consummate additional acquisitions, the
Company's continued ability to make dividend payments, the Company's ability
to implement its business plan, fluctuating energy commodity prices, the
possibility that regulators may not permit the Company to pass through all of
its increased costs to its customers, changes in the utility regulatory
environment, wholesale and retail competition, the Company's ability to
satisfy its debt obligations, including compliance with financial covenants,
weather conditions, litigation risks, and various other matters, many of which
are beyond the Company's control, the risk factors and cautionary statements
made in the Company's public filings with the Securities and Exchange
Commission, and other factors that the Company is currently unable to identify
or quantify, but may exist in the future. Gas Natural Inc. expressly
undertakes no obligation to update or revise any forward-looking statement
contained herein to reflect any change in Gas Natural Inc.'s expectations with
regard thereto or any change in events, conditions or circumstances on which
any such statement is based.
For more information contact:
Gas Natural Inc. Investor Relations: Kei Advisors LLC
Thomas J. Smith, Chief Financial Officer Deborah K. Pawlowski, Chairman & CEO
Phone: (440) 974-3770 Phone: (716) 843-3908
Email: email@example.com Email: firstname.lastname@example.org
SOURCE Gas Natural Inc.
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