Centuri (CTRI) said Wednesday it priced an underwritten secondary public offering of 9 million shares of its common stock, being sold by Southwest Gas Holdings.
The company said the offering is expected to close on Thursday, with underwriters having a 30-day option to buy an additional of about 1.4 million shares.
Separately, Southwest Gas said it will sell $50 million worth of Centuri shares to Icahn Partners and Icahn Partners Master Fund LP in a concurrent private placement, at the same price as the public offering.
The company said that the transaction is expected to close shortly after the public offering, pending customary conditions, adding that it is not selling any shares in either transaction and will not receive any proceeds.
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