LAS
VEGAS, April 22, 2024 /PRNewswire/ -- Southwest
Gas Holdings, Inc. (NYSE: SWX) ("Southwest Gas" or the "Company")
today announced the closing of Centuri Holdings, Inc.'s (NYSE:
CTRI) ("Centuri") initial public offering ("IPO") of 14,260,000
shares of Centuri's common stock at a price to the public of
$21.00 per share, including the
underwriters' full exercise of their option to purchase 1,860,000
shares to cover over-allotments. Shares of Centuri's common stock
began trading on the New York Stock Exchange under the symbol
"CTRI" on April 18, 2024.
As previously announced, in addition to the shares of Centuri's
common stock sold in the IPO, Icahn Partners LP and Icahn Partners
Master Fund LP, investment entities affiliated with Carl C. Icahn, purchased 2,591,929 shares of
Centuri's common stock in a concurrent private placement at a price
per share equal to the IPO price. The sale of these shares was not
registered under the Securities Act of 1933, as amended (the
"Securities Act").
UBS Investment Bank, BofA Securities and J.P. Morgan acted as
joint lead book-running managers for the IPO. Wells Fargo
Securities acted as a book-running manager for the IPO. Baird,
KeyBanc Capital Markets and Siebert
Williams Shank acted as co-managers for the IPO. Moelis
acted as an advisor to the Strategic Transactions Committee of the
Southwest Gas Board of Directors.
The offering was made only by means of a prospectus. A
registration statement on Form S-1 relating to the offering was
filed with, and declared effective, by the U.S. Securities and
Exchange Commission (the "SEC"). Copies of the prospectus related
to the offering may be obtained from the SEC at www.sec.gov, and
from: UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue
of the Americas, New York, NY
10019 or email: ol-prospectusrequest@ubs.com; BofA Securities,
Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon
Street, Charlotte, North Carolina
28255-0001 or by email at dg.prospectus_requests@bofa.com; or J.P.
Morgan Securities LLC, Attention: Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood,
NY 11717, by telephone at 866-803-9204 or by email at
prospectus-eq_fi@jpmorganchase.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. Any offers, solicitations or offers to buy,
or any sales of securities will be made in accordance with the
registration requirements of the Securities Act.
About Southwest Gas
Southwest Gas Holdings, Inc., through its primary operating
subsidiary Southwest Gas Corporation, engages in the business of
purchasing, distributing and transporting natural gas. In addition,
Southwest Gas Holdings, Inc. is the majority owner of Centuri
Holdings, Inc., which provides comprehensive utility infrastructure
services across North America.
Southwest Gas Corporation is a dynamic energy company committed to
exceeding the expectations of over 2 million customers throughout
Arizona, Nevada, and California by providing safe and reliable
service while innovating sustainable energy solutions to fuel the
growth in its communities.
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SOURCE Southwest Gas Holdings, Inc.