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Schedule 13D filing overview

On 06/30/2025 Atlantis Holding Corp. and Icon Energy Corp.’s Chairwoman & CEO, Ismini Panagiotidi, disclosed beneficial ownership of 7,685,546 common shares of Icon Energy (“ICONâ€�), representing 77.9 % of the outstanding class.

The position consists of (i) 5,000 common shares held directly and (ii) 7,680,546 shares issuable upon conversion of 17,249 Series A Cumulative Convertible Perpetual Preferred Shares. The Series A shares are convertible, in whole (not in part), between 16 Jul 2025 and 15 Jul 2032 at the lower of US $240 or the 5-day VWAP immediately before notice.

The preferred stock was issued under a 11 Jun 2024 exchange whereby ICON acquired Maui Shipping Co.; a further 2,249 Series A shares were issued in-kind for dividends on 30 Jun 2025. Atlantis is incorporated in the Marshall Islands; Ms. Panagiotidi controls Atlantis and Pavimar Shipping, which manages vessels operated by ICON.

The filing states the stake is held for investment purposes and that there are currently no definitive plans for additional transactions affecting ICON’s capital, governance or operations, though regular discussions with management and directors occur.

Key investor takeaways: (1) ICON is effectively insider-controlled, limiting minority influence; (2) up to 7.68 million new shares could be issued after July 2025, creating potential dilution risk; (3) conversion price linkage to VWAP may mitigate extreme pricing but favors the holder if shares trade below US $240.

Southwest Gas Holdings, Inc. filed Amendment No. 3 to Schedule 13G disclosing its current ownership in Centuri Holdings, Inc. (CTRI).

• The utility parent is the beneficial owner of 46,185,710 common shares.
• This represents 52.1 % of Centuri’s 88,649,154 shares outstanding as of 13 June 2025, giving Southwest Gas majority voting and dispositive control.
• The shares are held with sole voting and dispositive power; no shares are reported as jointly controlled.
• The filing is triggered under Section 13(d) of the Exchange Act, indicating a position of at least 5 % of the issuer’s equity.
• Certification is signed by Senior Vice President & Chief Legal, Safety and Compliance Officer Catherin M. Mazzeo on 08 July 2025.

The document contains no financial performance data or transactional details beyond ownership, but it confirms that Centuri remains a controlled subsidiary of Southwest Gas.

New York Mortgage Trust, Inc. (NASDAQ: NYMT) filed an 8-K announcing the completion of a $90 million public offering of 9.875% Senior Notes due 2030 (the “Notes�). The size includes $5 million issued via partial exercise of the underwriters� 30-day over-allotment option.

The Notes were priced at 100% of par and are senior unsecured obligations ranking pari-passu with NYMT’s existing unsecured notes (5.75% 2026, 9.125% 2029, 9.125% 2030). Interest is payable quarterly on 1 Jan/Apr/Jul/Oct, beginning 1 Oct 2025. The Notes mature on 1 Oct 2030 and are callable at par on or after 1 Oct 2027 with 30�60 days� notice.

Underwriters include Morgan Stanley, KBW, Piper Sandler, RBC, UBS and Wells Fargo. NYMT provided customary representations, covenants, and indemnities. The instruments were issued under an existing Base Indenture (Jan 23 2017) and a new Fourth Supplemental Indenture (Jul 8 2025) with U.S. Bank Trust Company as trustee. Events of default are standard; upon default the principal plus accrued interest may be accelerated.

After underwriting discounts, commissions and estimated expenses, net proceeds are approximately $86.6 million. The company plans to deploy the cash for general corporate purposes, potentially including acquisition of mortgage-, housing-, and credit-related assets and working capital.

The offering enhances near-term liquidity and extends the debt maturity profile but increases interest expense given the high coupon rate. No earnings data or pro-forma leverage metrics were disclosed in the filing.

Southwest Gas Holdings has filed an amended Schedule 13G disclosing beneficial ownership of 47,245,950 shares (53.3%) of Centuri Holdings' common stock as of June 18, 2025. The filing indicates Southwest Gas maintains sole voting and dispositive power over all reported shares, with no shared voting or dispositive rights. The ownership calculation is based on 88,649,154 total outstanding shares reported in Centuri's June 16, 2025 prospectus. Southwest Gas, a Delaware corporation headquartered in Las Vegas, Nevada, maintains significant control over Centuri Holdings through this majority stake. This amended filing provides updated ownership information for their substantial position in Centuri, a Phoenix-based company.

Southwest Gas Holdings reported a significant sale of Centuri Holdings (CTRI) common stock in a Form 4 filing. The transaction occurred on June 18, 2025, where the company, acting as a 10% owner, disposed of 11,212,500 shares at a price of $20.75 per share through an underwritten public offering.

Following the transaction, Southwest Gas Holdings maintains direct beneficial ownership of 47,245,950 shares of Centuri Holdings common stock. The sale represents a substantial divestment but indicates the company remains a significant shareholder.

Key Transaction Details:

• Transaction Type: Sale (S)
• Total Transaction Value: Approximately $232.6 million
• Ownership Form: Direct (D)
• Filing was signed by Catherine M. Mazzeo, Senior VP/Chief Legal, Safety & Compliance Officer and Corporate Secretary

Centuri Holdings has announced significant changes in its ownership structure through a major public offering and private placement. The company's major stockholder, Southwest Gas Holdings, completed a public offering of 11,212,500 shares at $20.75 per share, including the full exercise of underwriters' over-allotment option, generating net proceeds of approximately $225 million.

Additionally, Southwest Gas Holdings entered into an agreement with Icahn Investors (affiliated with Carl C. Icahn) for a concurrent private placement of 1,060,240 shares at the same price, expected to generate about $22 million. This private placement is pending HSR Act clearance and must close by July 9, 2025.

Key ownership changes:

• Southwest Gas Holdings' ownership reduced to 53.3% after public offering
• Will further decrease to 52.1% after Icahn private placement completion
• 45-day lock-up period implemented for insiders and major shareholders
• Icahn Investors granted registration rights for resale after 181 days