Short answer
UNITIL CORP (UTL) filed an 8-K current report with the SEC on July 7, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 7.01 (Regulation FD Disclosure), Item 8.01 (Other Events), Item EX-99.1 (Exhibit EX-99.1). Acquisition scope narrowed to AWC-NH and Abenaki, removing AWC-MA from Unitil’s purchase obligations.
UNITIL CORP 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- Acquisition scope narrowed to AWC-NH and Abenaki, removing AWC-MA from Unitil’s purchase obligations
- $50.0 million Tranche B facility supports the AWC-NH and Abenaki acquisitions, with $42.7 million borrowed June 30, 2026
- Tranche B borrowings mature June 30, 2027, with interest based on SOFR plus 1.25% or a floating rate plus 0.25%
- Debt structure includes a 65% maximum Funded Debt-to-Capitalization ratio, potentially constraining leverage and distributions
- Transition services available for up to 60 months at actual cost plus a 5% margin, supporting post-close operations while Unitil integrates assets
Item 7.01 · Regulation FD Disclosure
- Acquisition of AWC-NH and Abenaki completed, marking Unitil’s expansion through regulated utility assets
- Completion announcement contained in Exhibit 99.1, with transaction details and strategic implications for investors
Item 8.01 · Other Events
- Unitil completed acquisition of AWC-NH and Abenaki from Seller on June 30, 2026
- Total cash consideration approximately $42.7 million, including $42.1 million stock purchase price
- Additional $0.6 million covered estimated working capital and reimbursable capital expenditures
- Transaction expands Unitil’s operating assets but increases near-term cash deployment
Item EX-99.1 · Exhibit EX-99.1
- Completed $55.8 million acquisition of two New Hampshire water utilities from Aquarion Water Authority
- Added approximately 11,000 customers, 150 miles of mains, and $47.0 million estimated rate base
- Purchase included approximately $13.7 million debt assumption and $0.6 million working capital and capital expenditures
- Funded through a Scotiabank term loan, increasing leverage and interest-rate exposure
- Long-term earnings accretion supports Unitil’s 5%–7% targeted EPS growth; integration and regulatory risks remain
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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