Southwest Gas Prices 9.75 Mln Centuri Shares At $20.75/shr In Upsized Secondary Offering

(RTTNews) - Southwest Gas Holdings, Inc. (SWX) announced the pricing of an underwritten secondary public offering of Centuri Holdings Inc. (CTRI) common stock, pursuant to which Southwest Gas Holdings, as the selling stockholder, is offering 9.75 million existing shares of Centuri's common stock, at a price of $20.75 per share.

The size of the Offering reflects an increase from the 9.50 million shares originally proposed to be sold.

Southwest Gas Holdings has also granted the underwriters a 30-day option to purchase up to an additional 1.46 million shares of Centuri's common stock. The Offering is expected to close on June 18, 2025.

Southwest Gas said it has also entered into an agreement to sell to Icahn Partners and Icahn Partners Master Fund LP, investment entities affiliated with Carl C. Icahn, an aggregate of $22 million in shares of Centuri's common stock in a concurrent private placement at a price per share equal to the Offering price per share.