Southwest Gas Holdings, Inc. announced that Centuri Holdings, Inc. ("Centuri"), a wholly owned subsidiary of Southwest Gas, has launched a roadshow for the initial public offering (the "IPO") of 12,400,000 shares of Centuri's common stock. Centuri has granted the underwriters a 30-day option to purchase up to an additional 1,860,000 shares. The IPO price is currently expected to be between $18.00 and $21.00 per share. Centuri has been approved to list its shares on the New York Stock Exchange ("NYSE") under the ticker symbol "CTRI."
After completion of the IPO, Southwest Gas will continue to own approximately 82.7% of Centuri's outstanding common stock (or approximately 81.0% if the underwriters exercise their option to purchase additional shares of Centuri's common stock in full).
UBS Investment Bank, BofA Securities and J.P. Morgan are acting as joint lead book-running managers for the proposed offering. Wells Fargo Securities is acting as a book-running manager for the proposed offering. Baird, KeyBanc Capital Markets and Siebert Williams Shank will act as co-managers for the proposed offering.
A registration statement on Form S-1 relating to the offering has been filed with the U.S. Securities and Exchange Commission ("SEC") but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. The IPO will be made only by means of a prospectus, copies of which may be obtained, when available, 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.
