Deal Details
Centuri Completes $336.4 Million Follow-On Offering
Summary
Centuri Holdings, Inc. (“Centuri”) (NYSE: CTRI) recently completed the pricing of an underwritten secondary public offering of 17,250,000 shares of Centuri’s common stock by Southwest Gas Holdings, Inc. (“Southwest Gas”) (NYSE: SWX), including 2,250,000 shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares, at a price of $19.50 per share (the “Offering”). The Offering generated approximately $336.4 million in secondary gross proceeds to Southwest Gas.
In addition to the shares of Centuri’s common stock sold in the Offering, Southwest Gas announced that Icahn Partners LP and Icahn Partners Master Fund LP, investment entities affiliated with Carl C. Icahn, purchased an aggregate 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. The concurrent private placement generated approximately $30.7 million in secondary gross proceeds to Southwest Gas.
Centuri will not receive any proceeds from the Offering or concurrent private placement.
Baird served as a bookrunner on this Offering.
About
Centuri is a strategic utility infrastructure services company that partners with regulated utilities to build and maintain the energy network that powers millions of homes and businesses across the United States and Canada. Centuri is headquartered in Phoenix, Arizona.Southwest Gas, through its primary operating subsidiary Southwest Gas Corporation, engages in the business of purchasing, distributing and transporting natural gas. Southwest Gas Corporation is a dynamic energy company committed to exceeding the expectations of over 2 million customers throughout Arizona, Nevada and California by providing safe and reliable service while innovating sustainable energy solutions to fuel the growth in its communities. Southwest Gas is headquartered in Las Vegas, Nevada.
CONTACT US TO LEARN MORE
- Date
- August 2025
- Company
- Centuri Holdings, Inc.
- Transaction
- Equity Capital Markets
- Sectors
- Technology & Services
- Verticals
-
Facility, Industrial, Residential & Environmental Services
- Target Geography
- North America
Share
