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Southwest Gas Holdings Announces Pricing of Secondary Public Offering of Centuri Holdings, Inc. Common Stock
CTRICenturi Holdings, Inc.(CTRI) Prnewswire·2025-05-21 03:39

Core Viewpoint - Southwest Gas Holdings, Inc. is conducting a secondary public offering of 9,000,000 shares of Centuri Holdings, Inc. at a price of 17.50pershare,withanadditionaloptionforunderwriterstopurchase1,350,000shares[1][2]Group1:OfferingDetailsTheofferingisexpectedtocloseonMay22,2025,subjecttocustomaryclosingconditions[1]IcahnPartnersandIcahnPartnersMasterFundLPwillpurchase17.50 per share, with an additional option for underwriters to purchase 1,350,000 shares [1][2] Group 1: Offering Details - The offering is expected to close on May 22, 2025, subject to customary closing conditions [1] - Icahn Partners and Icahn Partners Master Fund LP will purchase 50 million in shares of Centuri's common stock in a concurrent private placement at the same price per share as the public offering [2] - The shares are being offered under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission [4] Group 2: Underwriters and Management - J.P. Morgan, UBS Investment Bank, and Wells Fargo Securities are acting as joint lead book-running managers for the offering [3] - BofA Securities and Moelis & Company are serving as book-running managers, with additional co-managers including Baird, KeyBanc Capital Markets, and others [3] Group 3: Company Background - Southwest Gas Holdings, Inc. operates through its subsidiary Southwest Gas Corporation, providing natural gas services to over 2 million customers in Arizona, Nevada, and California [6] - Centuri Holdings, Inc. partners with regulated utilities to build and maintain energy networks across the U.S. and Canada [7]