Core Viewpoint - Southwest Gas Holdings, Inc. is conducting a secondary public offering of Centuri Holdings, Inc. common stock, offering 9,750,000 shares at a price of $20.75 per share, with a potential additional 1,462,500 shares available for underwriters [1][2] Group 1: Offering Details - The offering size has increased from an initial proposal of 9,500,000 shares to 9,750,000 shares [1] - The offering is expected to close on June 18, 2025, subject to customary closing conditions [1] - J.P. Morgan and Wells Fargo Securities are the joint lead book-running managers for the offering, with several other firms acting as book running managers and co-managers [3] Group 2: Concurrent Private Placement - Southwest Gas Holdings has agreed to sell $22 million in shares of Centuri's common stock to Icahn Partners and Icahn Partners Master Fund LP at the same price as the public offering [2] - The concurrent private placement is contingent upon the completion of the public offering and must close by July 9, 2025, or it will terminate [2] 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]
Southwest Gas Holdings Announces Pricing of Upsized Secondary Public Offering of Centuri Holdings, Inc. Common Stock