Centuri Announces Closing of Initial Public Offering
Centuri Announces Closing of Initial Public Offering
Centuri Holdings, Inc. (NYSE: CTRI) (“Centuri”), a leading, pure-play North American utility infrastructure services company, today announced the closing of its initial public offering (“IPO”) of 14,260,000 shares of its common stock at a price to the public of $21.00 per share, including the underwriters’ full exercise of their option to purchase 1,860,000 shares to cover over-allotments. Shares of Centuri’s common stock began trading on the New York Stock Exchange under the symbol “CTRI” on April 18, 2024.
As previously announced, in addition to the shares of Centuri’s common stock sold in the IPO, Icahn Partners LP and Icahn Partners Master Fund LP, investment entities affiliated with Carl C. Icahn, purchased 2,591,929 shares of Centuri’s common stock in a concurrent private placement at a price per share equal to the IPO price. The sale of these shares was not registered under the Securities Act of 1933, as amended (the “Securities Act”).
UBS Investment Bank, BofA Securities and J.P. Morgan acted as joint lead book-running managers for the IPO. Wells Fargo Securities acted as a book-running manager for the IPO. Baird, KeyBanc Capital Markets and Siebert Williams Shank acted as co-managers for the IPO.
The offering was made only by means of a prospectus. A registration statement on Form S-1 relating to the offering was filed with, and declared effective, by the U.S. Securities and Exchange Commission (the “SEC”). Copies of the prospectus related to the offering may be obtained 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.
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.
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.
For Centuri Shareholders, contact:
(623) 879-3700
Investors@Centuri.com
For Centuri media information, contact:
Jennifer Russo
(602) 781-6958
JRusso@Centuri.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20240422703357/en/
-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations