RGC Resources, Inc. Prices Public Offering of Common Stock

ROANOKE, Va., March 15, 2018 -- RGC Resources, Inc. (NASDAQ:RGCO) today announced the pricing of an underwritten public offering of 608,696 shares of its common stock, at a price to the public of $23.00 per share.  In connection with the offering, RGC Resources granted the underwriters involved in the offering with a 30-day option to purchase up to an additional 91,304 shares of its common stock.  The offering is expected to close on March 19, 2018, subject to customary closing conditions.

The net proceeds from the offering will be used to fund capital investments intended to support growth and for general corporate purposes.

BB&T Capital Markets, a division of BB&T Securities, LLC and Janney Montgomery Scott LLC are acting as joint book-running managers of the offering. Seaport Global Securities is acting as a manager of the offering.

This offering is being made under an effective shelf registration statement filed with the U. S. Securities and Exchange Commission, and only by means of a prospectus supplement for this offering and a related base prospectus.  Copies of the prospectus supplement and related base prospectus may be obtained by contacting:

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, shares of RGC Resources, Inc. common stock, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.  The offering will be made only by means of prospectus supplement and accompanying prospectus, each of which is part of an effective shelf registration statement filed by RGC Resources, Inc. with the Securities and Exchange Commission.

About RGC Resources, Inc.
RGC Resources, Inc. 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.

Forward Looking Statements
This press release, the prospectus supplement and the prospectus include forward-looking statements.  All statements, other than historical facts included or incorporated herein or therein, that address activities, events or developments that we expect or anticipate will or may occur in the future, including such things as the completion, timing, size proceeds and the use of proceeds for the proposed offering, are forward-looking statements.  All forward-looking statements speak only as of the date hereof and the date of the prospectus supplement and are subject to inherent risks and uncertainties, including those discussed under the caption “Risk Factors” in the prospectus and prospectus supplement and in our most recent Form 10-K on file with the SEC.  In addition, RGC Resources management retains broad discretion with respect to the allocation of the net proceeds of this offering.  Although we believe that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved.  Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statement.

Contact:
Paul W. Nester
Vice President and CFO
Telephone: 540-777-3837