Southwest Gas Holdings, Inc. announced on June 16, 2025, the commencement of an upsized underwritten secondary public offering of 9,500,000 shares of Centuri's common stock. Southwest Gas Holdings, as the selling stockholder, also expects to grant underwriters a 30-day option to purchase up to an additional 1,425,000 shares.
Subject to regulatory approvals, Icahn Partners and Icahn Partners Master Fund LP have agreed to purchase an aggregate of $22 million in Centuri shares from Southwest Gas Holdings in a concurrent private placement.
Centuri Holdings is not selling any shares in this proposed offering or the concurrent private placement and will not receive any proceeds from the sale of shares by Southwest Gas Holdings.
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