By Stephen Nakrosis
Southwest Gas Holdings said it plans to offer 9 million shares of Centuri Holdings common stock in an underwritten secondary public offering, and will also sell $50 million in Centuri common shares to investment entities affiliated with Carl Icahn.
Icahn Partners and Icahn Partners Master Fund LP will purchase $50 million in Centuri common shares in a private placement which will run concurrently with the public offering. The share price paid by the Icahn entities will equal the public offering price per share, Southwest said.
Southwest Gas Holdings also expects to grant underwriters an option to purchase up to an additional 1.35 million shares of Centuri's common stock.
Centuri Holdings shares fell 8% to $18 in after hours trading on Tuesday after rising 3.3% to $19.60 in the regular session.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
May 20, 2025 17:21 ET (21:21 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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