Southwest Gas Holdings Announces Launch of Secondary Public Offering of Centuri Holdings, Inc. Common Stock
Southwest Gas Holdings (NYSE: SWX) has announced plans to sell its entire stake of 27,362,210 shares of Centuri Holdings (NYSE: CTRI) through a secondary public offering. Following the completion of this offering, Southwest Gas Holdings will completely divest its ownership in Centuri.
The offering will be conducted through an effective shelf registration statement filed with the SEC, with a preliminary prospectus supplement to be filed detailing the terms of the offering. The sale will be executed in compliance with Securities Act requirements and regulatory guidelines.
Southwest Gas Holdings (NYSE: SWX) ha annunciato l'intenzione di vendere l'intera partecipazione di 27.362.210 azioni di Centuri Holdings (NYSE: CTRI) mediante un'offerta pubblica secondaria. Al completamento dell'operazione, Southwest Gas Holdings cederà integralmente la sua partecipazione in Centuri.
L'offerta sarà effettuata tramite una dichiarazione di registrazione a scaffale valida presso la SEC, e verrà presentato un supplemento al prospetto preliminare che dettaglierà i termini dell'operazione. La vendita sarà eseguita in conformità ai requisiti del Securities Act e alle normative vigenti.
Southwest Gas Holdings (NYSE: SWX) ha anunciado su intención de vender toda su participación de 27.362.210 acciones de Centuri Holdings (NYSE: CTRI) mediante una oferta pública secundaria. Tras la finalización de esta operación, Southwest Gas Holdings se desprenderá por completo de su participación en Centuri.
La oferta se llevará a cabo a través de una declaración de registro «shelf» vigente presentada ante la SEC, y se presentará un suplemento al prospecto preliminar que detallará los términos de la oferta. La venta se realizará cumpliendo los requisitos del Securities Act y las normas regulatorias aplicables.
Southwest Gas Holdings (NYSE: SWX)는 Centuri Holdings (NYSE: CTRI)의 27,362,210주 전량을 이차 공모(secondary public offering)를 통해 매각할 계획이라고 발표했습니다. 이 공모가 완료되면 Southwest Gas Holdings는 Centuri에 대한 지분을 전부 처분하게 됩니다.
이번 공모는 SEC에 제출된 유효한 셸프 등록서(shelf registration statement)를 통해 진행되며, 공모 조건을 상세히 기재한 예비 설명서 보충서(preliminary prospectus supplement)가 제출될 예정입니다. 매각은 Securities Act 요건 및 관련 규제 지침을 준수하여 실행됩니다.
Southwest Gas Holdings (NYSE: SWX) a annoncé son intention de vendre l'intégralité de sa participation de 27 362 210 actions de Centuri Holdings (NYSE: CTRI) par le biais d'une offre publique secondaire. Une fois cette opération achevée, Southwest Gas Holdings se désengagera totalement de Centuri.
L'offre sera réalisée via une déclaration d'enregistrement « shelf » effective déposée auprès de la SEC, et un supplément au prospectus préliminaire, détaillant les modalités de l'offre, sera déposé. La cession sera effectuée conformément aux exigences du Securities Act et aux règles réglementaires en vigueur.
Southwest Gas Holdings (NYSE: SWX) hat angekündigt, seine gesamte Beteiligung von 27.362.210 Aktien an Centuri Holdings (NYSE: CTRI) im Rahmen eines sekundären öffentlichen Angebots zu veräußern. Nach Abschluss dieses Angebots wird Southwest Gas Holdings seine Beteiligung an Centuri vollständig abstoßen.
Das Angebot wird über eine wirksame Shelf-Registrierungserklärung bei der SEC durchgeführt; ein vorläufiger Prospektergänzung wird eingereicht, der die Bedingungen des Angebots erläutert. Der Verkauf erfolgt in Übereinstimmung mit den Anforderungen des Securities Act und den geltenden regulatorischen Vorgaben.
- Complete divestiture provides opportunity for Southwest Gas Holdings to streamline operations and focus on core business
- Potential to strengthen SWX's balance sheet through sale proceeds
- Loss of ownership in Centuri Holdings eliminates potential future revenue stream from this subsidiary
The shares are being offered pursuant to an effective shelf registration statement (including a base prospectus) that has been filed by Centuri with the U.S. Securities and Exchange Commission (the "SEC"). A preliminary prospectus supplement relating to and describing the terms of the proposed Offering will be filed by Centuri with the SEC and will be available on the SEC's website at www.sec.gov. The proposed Offering will be made only by means of a prospectus supplement and accompanying prospectus that forms a part of the registration statement.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (the "Securities Act").
About Southwest Gas Holdings
Southwest Gas Holdings, Inc., through its primary operating subsidiary Southwest Gas Corporation, engages in the business of purchasing, distributing, and transporting natural gas. Southwest Gas Corporation is a dynamic energy company committed to exceeding the expectations of over 2 million customers throughout Arizona, Nevada, and California by providing safe and reliable service while innovating sustainable energy solutions to fuel the growth in its communities. In addition, Southwest Gas Holdings, Inc. is a minority owner of Centuri Holdings, Inc., which provides comprehensive utility infrastructure services across North America.
About Centuri
Centuri Holdings, Inc. is a strategic utility infrastructure services company that partners with regulated utilities to build and maintain the energy network that powers millions of homes and businesses across the United States and Canada.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include, without limitation, statements regarding Southwest Gas Holdings' expectations or intentions regarding the future. These forward-looking statements can often be identified by the use of words such as "will", "predict", "continue", "forecast", "expect", "believe", "anticipate", "outlook", "could", "target", "project", "intend", "plan", "seek", "estimate", "should", "may" and "assume", as well as variations of such words and similar expressions referring to the future, and include (without limitation) statements regarding expectations with respect to the expected completion, timing and size of the proposed Offering. A number of important factors affecting the business and financial results of Southwest Gas Holdings and/or Centuri could cause actual results to differ materially from those stated in the forward-looking statements. These factors include, but are not limited to, the timing of a separation of Southwest Gas Holdings' remaining interests in Centuri, the timing and impact of executing (or not executing) such transaction alternatives, the timing and amount of rate relief, changes in rate design, customer growth rates, the effects of regulation/deregulation, tax reform and similar changes and related regulatory decisions, the impacts of construction activity at Centuri, the potential for, and the impact of, a credit rating downgrade, the costs to integrate new businesses, future earnings trends, inflation, sufficiency of labor markets and similar resources, seasonal patterns, current and future litigation, and the impacts of stock market volatility. Factors that could cause actual results to differ also include (without limitation) those discussed in Southwest Gas Holdings' and Centuri's respective periodic reports filed from time to time with the SEC, including Southwest Gas Holdings' and Centuri's most recent Annual Reports on Form 10-K under the heading "Risk Factors" and "Quantitative and Qualitative Disclosure about Market Risk," as well as the preliminary prospectus supplement relating to the proposed Offering filed with the SEC. The statements in this press release are made as of the date of this press release, even if subsequently made available by Southwest Gas Holdings and/or Centuri on their websites or otherwise. Southwest Gas Holdings does not assume any obligation to update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.
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SOURCE Southwest Gas Holdings, Inc.
FAQ
How many Centuri Holdings (CTRI) shares is Southwest Gas Holdings (SWX) selling in the secondary offering?
Will Southwest Gas Holdings retain any ownership in Centuri Holdings after the secondary offering?
How will the Centuri Holdings secondary offering be conducted?
What regulatory requirements apply to the Southwest Gas Holdings' sale of Centuri shares?
What is the purpose of Southwest Gas Holdings selling its Centuri Holdings shares?
