Business
Centuri Announces Launch of Secondary Public Offering of Common Stock
PHOENIX, August 07, 2025--Centuri Holdings, Inc. (NYSE: CTRI) ("Centuri" or the "Company") today announced the commencement of an underwritten secondary public offering of 15,000,000 shares of Centuri’s common stock by Southwest Gas Holdings, Inc. ("Southwest Gas") as selling stockholder (the "Offering"). Southwest Gas also expects to grant the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of Centuri’s common stock.
About this update from Southwest Gas Holdings, Inc.
[{"type":"text","content":"PHOENIX, August 07, 2025--(BUSINESS WIRE)--Centuri Holdings, Inc. (NYSE: CTRI) ("Centuri" or the "Company") today announced the commencement of an underwritten secondary public offering of 15,000,000 shares of Centuri’s common stock by Southwest Gas Holdings, Inc. ("Southwest Gas") as selling stockholder (the "Offering"). Southwest Gas also expects to grant the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of Centuri’s common stock.","length":508,"tagName":"p"},{"type":"text","content":"In addition to the shares of Centuri’s common stock sold in the Offering, Southwest Gas announced that Icahn Partners and Icahn Partners Master Fund LP, investment entities affiliated with Carl C. Icahn, will purchase an aggregate of 1,573,500 shares of Centuri’s common stock from Southwest Gas in a concurrent private placement at a price per share equal to the Offering price per share. The concurrent private placement is expected to close immediately following the closing of the Offering and is subject to the satisfaction or waiver of customary closing conditions, including the completion of the Offering. The sale of these shares will not be registered under the Securities Act of 1933, as amended (the "Securities Act"). The closing of the Offering is not conditioned upon the closing of the concurrent private placement.","length":841,"tagName":"p"},{"type":"text","content":"Centuri is not selling any shares of common stock in the proposed Offering or the concurrent private placement and will not receive any proceeds from the sale of the shares being offered by Southwest Gas.","length":204,"tagName":"p"},{"type":"text","content":"J.P. Morgan, Wells Fargo Securities, BofA Securities and Moelis & Company are acting as joint lead book-running managers for the proposed Offering.","length":151,"tagName":"p"},{"type":"text","content":"A registration statement on Form S-3 relating to the securities being sold in the proposed Offering has been filed with and declared effective by the U.S. Securities and Exchange Commission (the "SEC") and is available on the SEC’s website at www.sec.gov. The proposed Offering will be made only by means of a prospectus supplement and accompanying prospectus that forms a part of the registration statement, copies of which may be ...