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Southwest Gas Holdings Announces Closing of Secondary Public Offering of Centuri Holdings, Inc. Common Stock

On May 22, 2025, in Las Vegas, Southwest Gas Holdings, Inc. Completed the sale of 10,350,000 shares of Centuri Holdings, Inc. Common stock through a managed secondary share offering.
The Offering occurred because Southwest Gas Holdings, the selling stockholder, sought to raise capital and partially divest shares in Centuri through a public sale and concurrent private placement.
The underwriters fully exercised an option to purchase an additional 1,350,000 shares, and Icahn-affiliated entities bought 2,857,142 shares at the $17.50 Offering Price in a simultaneous private placement.
Southwest Gas Holdings obtained roughly $175 million in proceeds, after underwriters' fees, and plans to apply these funds toward paying down existing debt, while retaining a 65.9% stake in Centuri's common stock.
This transaction indicates that Southwest Gas Holdings plans to lower its debt while maintaining majority ownership of Centuri, a company that delivers extensive utility infrastructure solutions throughout the United States and Canada.

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Helena Independent Record

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Southwest Gas Holdings Announces Closing of Secondary Public Offering of Centuri Holdings, Inc. Common Stock

LAS VEGAS, May 22, 2025 /PRNewswire/ -- Southwest Gas Holdings, Inc. (NYSE: SWX) ("Southwest Gas Holdings" or the "Company") today announced the closing of its underwritten secondary public offering of Centuri Holdings, Inc. (NYSE: CTRI) ("Centuri") common stock (the "Offering").…

2 days ago·Helena, United States

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