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

On May 20, 2025, Southwest Gas Holdings, Inc. announced from Las Vegas that it is selling 9,000,000 existing shares of Centuri Holdings, Inc. common stock through a publicly registered secondary offering managed by underwriters.
The offering comes after Southwest Gas Holdings became the majority stakeholder in Centuri, a company that delivers a wide range of infrastructure services to regulated utilities throughout the United States and Canada.
The underwriting group is led by J.P. Morgan, UBS, and Wells Fargo Securities, with BofA Securities, Moelis & Company, and multiple additional co-managers participating; Southwest Gas has provided a 30-day option for the purchase of 1,350,000 extra shares.
Investment firms affiliated with Carl C. Icahn will simultaneously acquire $50 million worth of Centuri Holdings shares directly from Southwest Gas Holdings at the same price of $17.50 per share as the ongoing public offering.
The Offering is scheduled to finalize on May 22, 2025, and its completion is independent of the related private placement, which is anticipated to occur immediately afterward and is subject to standard closing conditions.

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

LAS VEGAS, May 20, 2025 /PRNewswire/ -- Southwest Gas Holdings, Inc. (NYSE: SWX) ("Southwest Gas Holdings" or the "Company") today announced the commencement of an underwritten secondary public offering of Centuri Holdings, Inc. (NYSE: CTRI) ("Centuri") common stock (the "Offering"),…

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Centuri Secondary Offering Draws $50M Icahn Investment in Private Placement Deal

Southwest Gas selling 9M Centuri shares plus $50M private placement to Icahn Partners. Major ownership shift signals strategic evolution. Get deal insights.

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