<a href="https://laohu8.com/S/SWX">Southwest Gas</a> Holdings Inc. Completes Secondary Offering and Private Placement of <a href="https://laohu8.com/S/CTRI">Centuri</a> Holdings Shares, Raising $356 Million
Southwest Gas Holdings Inc. has announced the successful closing of its underwritten secondary public offering of Centuri Holdings, Inc. common stock. In this offering, Southwest Gas Holdings sold 17,250,000 existing shares of Centuri's common stock at a public offering price of $19.50 per share. This included the full exercise of the underwriters' option to purchase an additional 2,250,000 shares to cover over-allotments. Additionally, investment entities affiliated with Carl C. Icahn, Icahn Partners LP and Icahn Partners Master Fund LP, purchased a total of 1,573,500 shares in a concurrent private placement at the same price per share. The proceeds from these transactions, amounting to approximately $356 million, will be used by Southwest Gas Holdings to repay outstanding debt and for general corporate purposes. Following these events, Southwest Gas Holdings retains about 30.9% of Centuri's outstanding common stock and will account for its interest using the equity method.
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