AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
_6ff029a61766633234293.png?format=webp&width=1186&height=250)
Southwest Gas Holdings sells 27.3mln shares of Centuri Holdings at $19.6/share on 2023-09-05.
ByAinvest
Friday, Sep 5, 2025 4:23 pm ET1min read
Centuri Holdings, Inc. [CTRI] has disclosed that its 10% owner, Southwest Gas Holdings, Inc., has conducted a transaction involving the sale of 27,362,210 shares at a price of $19.6 per share on September 5, 2025.
Southwest Gas Holdings, Inc. (SWX), a minority owner of Centuri Holdings, Inc. (CTRI), has announced the sale of 27,362,210 shares of Centuri's common stock. The transaction, priced at $19.60 per share, is set to close on September 5, 2025, subject to customary closing conditions [1][2][3].Southwest Gas Holdings will no longer own any shares of Centuri's common stock upon the completion of the offering. The shares are being offered pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) by Centuri. A preliminary prospectus supplement describing the terms of the offering will be available on the SEC's website [1][3].
The sale of these shares is part of Southwest Gas Holdings' strategic plan to reduce its ownership in Centuri. Southwest Gas Holdings has been a significant minority owner of Centuri, providing utility infrastructure services across North America. This transaction aims to align with Southwest Gas Holdings' broader financial strategy and may indicate a shift in its investment focus [1][2].
Centuri Holdings, Inc. dropped 2.63% in premarket trading following the announcement, reflecting market reactions to the secondary public offering [2]. The company is not selling any shares in the offering and will not receive any proceeds from the sale of the shares being offered by Southwest Gas Holdings.
This transaction highlights the dynamic nature of the utility sector, where strategic partnerships and ownership structures can evolve over time to optimize financial performance and align with long-term business objectives [1][2][3].
References:
[1] https://www.prnewswire.com/news-releases/southwest-gas-holdings-announces-pricing-of-secondary-public-offering-of-centuri-holdings-inc-common-stock-302545884.html
[2] https://www.ainvest.com/news/centuri-holdings-shares-fall-2-63-premarket-southwest-gas-holdings-announced-secondary-offering-27-4-million-shares-2509/
[3] https://www.swgasholdings.com/news-releases/news-release-details/southwest-gas-holdings-announces-pricing-secondary-public-1
Ainvest News articles are AI-generated using advanced large language model (LLM) technology designed to analyze and synthesize publicly available data and news. While AI tools assist in producing initial drafts and insights, all AI generated content published on Ainvest is subject to comprehensive human editorial review before publication. A designated human editor reviews, verifies, and approves each article for factual accuracy, coherence, and compliance with AInvest Fintech Inc’s editorial and disclosure standards.
Despite these review procedures, the information provided may still contain inaccuracies, incomplete data, or time sensitive references due to the inherent limitations of AI generated analysis and evolving changes. The material is provided strictly for informational and educational purposes and does not constitute personalized investment, legal, or financial advice. Readers should independently verify all facts, figures, and statements before making any decision based on this content.
AInvest Fintech Inc. its affiliates, and partners accept no liability or responsibility for any direct or consequential losses arising from reliance on this content. All articles and analyses are subject to revision, update, or removal without prior notice to maintain accuracy and integrity in our publications.
Comments
No comments yet