Southwest Gas completes secondary offering of 17.25M Centuri shares at $19.50; also sells 1.57M shares to Icahn

Centuri Holdings, Inc.

Southwest Gas sold 17,250,000 shares of Centuri common stock in public offering at $19.50 per share; also sold 1,573,500 shares to Icahn affiliates at same price in concurrent private placement.
Net proceeds to Southwest Gas approx $325M from offering and $31M from private placement; Centuri received no proceeds.
After closing, Southwest Gas owns 27,362,210 Centuri shares, approx 30.9% of total outstanding.
Centuri granted resale registration rights to Icahn investors for shares purchased in private placement; lock-up on insiders for 30 days.

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