Business
Southwest Gas Holdings Announces Completion of Centuri Separation
Southwest Gas Holdings, Inc. (NYSE: SWX) ("Southwest Gas Holdings" or the "Company") today announced the closing of the previously announced registered public offering of Centuri Holdings, Inc. (NYSE: CTRI) ("Centuri") common stock (the "Offering"). Southwest Gas Holdings, as the selling stockholder, sold 27,362,210 existing shares of Centuri's common stock at a price to the public of $19.60 per share.
About this update from Southwest Gas Holdings, Inc.
[{"type":"text","content":"LAS VEGAS, Sept. 5, 2025 /PRNewswire/ -- Southwest Gas Holdings, Inc. (NYSE: SWX) ("Southwest Gas Holdings" or the "Company") today announced the closing of the previously announced registered public offering of Centuri Holdings, Inc. (NYSE: CTRI) ("Centuri") common stock (the "Offering"). Southwest Gas Holdings, as the selling stockholder, sold 27,362,210 existing shares of Centuri's common stock at a price to the public of $19.60 per share.","length":515,"tagName":"p"},{"type":"text","content":"Southwest Gas Holdings received net proceeds of approximately $525 million from the Offering, after deducting the Underwriter's discount and commission. Following the completion of the Offering, Southwest Gas Holdings no longer owns any shares of Centuri's common stock.","length":278,"tagName":"p"},{"type":"text","content":""We've successfully completed our exit from Centuri, positioning Southwest Gas Holdings as a premier fully regulated natural gas company," said Karen Haller, President and Chief Executive Officer of Southwest Gas Holdings. "This strategic transformation enhances transparency, simplifies our story, and aligns us squarely with long-term value creation in the utility space. With all holding company debt now fully repaid—including the term loan—and about $600 million in cash on hand, we're entering this next chapter with a strong balance sheet and significant financial flexibility. These resources are expected to primarily support future capital investments at Southwest Gas Corporation, including the potential 2028 expansion of Great Basin Gas Transmission Company, reinforcing our commitment to disciplined growth and reliable returns."","length":871,"tagName":"p"},{"type":"text","content":"This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (the "Se...