Gas Natural Prices Underwritten Public Offering At $10.00/shr

(RTTNews) - Gas Natural Inc. (EGAS), a natural gas utility company serving approximately 73,000 customers in seven states, announced the pricing of an underwritten public offering of about 1.13 million shares of its common stock at a price of $10.00 per share.

Of the 1.13 million shares, 80,000 shares will be sold by the Company, 1.01 million shares million will be sold by the Company's Chairman and Chief Executive Officer, Richard Osborne, and 47,244 shares will be sold by the Company's Chief Financial Officer, Thomas Smith.

The company said it will not receive any proceeds from the sale of shares by Osborne and Smith.

The company expects to use the net proceeds from the shares sold by the Company for capital expenditures, working capital, acquisitions and other general corporate purposes. The offering is expected to close on November 5, 2013 subject to customary closing conditions.

The Company has granted the underwriter a 30-day option to purchase up to an additional 170,000 shares of common stock on the same terms and conditions to cover over-allotments, if any.