Southwest Gas Holdings (SWX) closed its secondary public offering of Centuri Holdings (CTRI) shares for net proceeds of $175 million.
Southwest Gas sold 10.35 million Centuri shares at $17.50 apiece, including the underwriters' full exercise of the option to purchase 1.35 million shares to cover overallotments.
Icahn Partners and Icahn Partners Master Fund LP, investment entities affiliated with Carl Icahn, purchased almost 2.86 million Centuri shares in a concurrent private placement at a price equal to the secondary offering, generating proceeds of $50 million, Southwest said Thursday in a statement.
Southwest continues to own almost 66% of Centuri.
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