Southwest Gas Holdings Completes Secondary Public Offering of Centuri Holdings, Inc. Shares

Southwest Gas Holdings Successfully Completes Secondary Public Offering of Centuri Holdings, Inc.

On September 3, 2025, Southwest Gas Holdings, Inc. (NYSE: SWX) revealed the finalized pricing for the previously announced public offering of Centuri Holdings, Inc. (NYSE: CTRI) common stock. As part of this offering, Southwest Gas Holdings, as the selling stockholder, will be offering an impressive 27,362,210 shares of Centuri's existing common stock, priced at $19.60 per share. This significant transaction is anticipated to close on September 5, 2025, provided that customary closing conditions are met.

Upon the completion of this public offering, Southwest Gas Holdings is set to divest its entire stake in Centuri's common stock, marking a notable shift in its investment strategy.

Underwriting and Registration Process

The offering is being underwritten by J.P. Morgan, one of the leading financial institutions in the industry, known for facilitating large-scale public offerings. The shares will be offered under an effective shelf registration statement that Centuri has filed with the U.S. Securities and Exchange Commission (SEC). A preliminary prospectus supplement detailing the specific terms of the offering will also be made available on the SEC’s website.

Investors interested in acquiring shares can request copies of the prospectus supplement and accompanying documentation from J.P. Morgan Securities LLC, a part of the underwriting team.

Implications for Southwest Gas Holdings

This move to liquidate its shares in Centuri aligns with Southwest Gas Holdings' strategic focus on refining its investment portfolio and optimizing its overall asset base. As the company moves forward without any shares in Centuri, it positions itself to streamline operations and concentrate resources on its core natural gas business.

Overview of Southwest Gas Holdings

Southwest Gas Holdings operates primarily through its subsidiary, Southwest Gas Corporation, providing vital natural gas purchasing, distribution, and transportation services. The company plays a crucial role in the energy sector, catering to over 2 million customers across the regions of Arizona, Nevada, and California. With a commitment to delivering reliable services while pursuing sustainable energy initiatives, Southwest Gas Holdings continues to innovate its growth trajectories.

About Centuri Holdings

Centuri Holdings, Inc. stands as a pivotal player in the utility infrastructure sector, collaborating with regulated utilities to construct and maintain the essential energy networks that service millions of homes and businesses in the United States and Canada. The company's focus on providing comprehensive utility services positions it as a cornerstone of the energy landscape across North America.

Future Considerations

Looking ahead, Southwest Gas Holdings has indicated that numerous factors could influence its business and financial outcomes post-offering. These include potential changes in regulatory landscapes, operational adjustments, and the overall market dynamics related to the utility services sector. Stakeholders and investors will undoubtedly observe how these developments may unfold in the coming periods.

In conclusion, the successful pricing and upcoming closure of this secondary public offering underline significant strategic maneuvers by Southwest Gas Holdings, potentially reshaping its investment landscape and operational focus. The energy sector remains dynamic, and the outcomes of this offering may have ripple effects on broader market trends related to utility services and infrastructure.