Reported Earlier, Southwest Gas And Centuri Prices Centuri Initial Public Offering Of 12.4M Centuri Common Shares At $21/Share

Author: Benzinga Newsdesk | April 18, 2024 03:26am

Southwest Gas Holdings, Inc. (NYSE:SWX) ("Southwest Gas") and Centuri Holdings, Inc. (NYSE:CTRI) ("Centuri"), a wholly owned subsidiary of Southwest Gas, today announced the pricing of Centuri's initial public offering (the "IPO") of 12,400,000 shares of Centuri's common stock at an initial public offering price of $21.00 per share. In addition, Centuri has granted the underwriters a 30-day option to purchase up to an additional 1,860,000 shares of its common stock to cover over-allotments, if any. Centuri's common stock has been approved for listing on the New York Stock Exchange ("NYSE") under the symbol "CTRI" and is expected to begin trading on April 18, 2024. The IPO is expected to close on April 22, 2024, subject to the satisfaction or waiver of customary closing conditions

In addition to the shares of Centuri's common stock sold in the IPO, Centuri announced that Icahn Partners and Icahn Partners Master Fund LP, investment entities affiliated with Carl C. Icahn, will purchase 2,591,929 shares of Centuri's common stock in a concurrent private placement at a price per share equal to the IPO price, for gross proceeds of approximately $54.4 million. 

Posted In: CTRI SWX