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[8-K] Centuri Holdings, Inc. Reports Material Event

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Form Type
8-K
Rhea-AI Filing Summary

Centuri Holdings disclosed that a major selling shareholder completed a public offering of 17,250,000 shares of Centuri common stock at an offering price of $19.50 per share, with underwriters exercising an option to purchase an additional 1,573,500 shares to cover over-allotments. The selling stockholder received net proceeds of approximately $325 million; the Company did not receive any proceeds from that sale.

Concurrently, the selling stockholder sold 1,573,500 shares to Icahn-affiliated investment entities for approximately $31 million, and Centuri agreed to provide resale registration rights for those shares under a Registration Rights Letter Agreement. After the transactions the selling stockholder holds 27,362,210 shares, representing approximately 30.9% of outstanding shares. The Company also entered an underwriting agreement with J.P. Morgan that includes a 30-day restraint on transfers by specified parties and customary representations and indemnities. Exhibits filed include the Underwriting Agreement, opinion of counsel, and the Registration Rights Letter Agreement.

Centuri Holdings ha comunicato che un importante azionista venditore ha completato un'offerta pubblica di 17.250.000 azioni ordinarie di Centuri al prezzo di offerta di $19,50 per azione, con gli underwriter che hanno esercitato l'opzione di acquistare ulteriori 1.573.500 azioni per coprire le sovraassegnazioni. L'azionista venditore ha ottenuto proventi netti per circa $325 milioni; la Societ脿 non ha ricevuto alcun ricavo da tale vendita.

Contemporaneamente, l'azionista venditore ha venduto 1.573.500 azioni a entit脿 di investimento affiliate a Icahn per circa $31 milioni, e Centuri si 猫 impegnata a concedere diritti di registrazione per la rivendita di quelle azioni ai sensi di una Registration Rights Letter Agreement. Dopo le operazioni, l'azionista venditore detiene 27.362.210 azioni, corrispondenti a circa 30,9% delle azioni in circolazione. La Societ脿 ha inoltre stipulato un accordo di collocamento con J.P. Morgan che include una restrizione di 30 giorni sui trasferimenti da parte di soggetti specificati e le consuete dichiarazioni e obblighi di indennizzo. Tra gli allegati depositati figurano il Contratto di Sottoscrizione, il parere legale e la Registration Rights Letter Agreement.

Centuri Holdings inform贸 que un importante accionista vendedor complet贸 una oferta p煤blica de 17.250.000 acciones ordinarias de Centuri a un precio de oferta de $19.50 por acci贸n, y los aseguradores ejercieron una opci贸n para comprar 1.573.500 acciones adicionales para cubrir sobresuscripciones. El accionista vendedor recibi贸 ingresos netos de aproximadamente $325 millones; la Compa帽铆a no recibi贸 ingresos por esa venta.

Simult谩neamente, el accionista vendedor vendi贸 1.573.500 acciones a entidades de inversi贸n afiliadas a Icahn por aproximadamente $31 millones, y Centuri acord贸 otorgar derechos de registro para la reventa de esas acciones conforme a una Registration Rights Letter Agreement. Tras las transacciones, el accionista vendedor posee 27.362.210 acciones, que representan aproximadamente el 30.9% de las acciones en circulaci贸n. La Compa帽铆a tambi茅n firm贸 un acuerdo de colocaci贸n con J.P. Morgan que incluye una restricci贸n de 30 d铆as sobre transferencias por parte de determinadas partes y las habituales declaraciones e indemnizaciones. Los anexos presentados incluyen el Acuerdo de Suscripci贸n, el dictamen legal y la Registration Rights Letter Agreement.

Centuri Holdings電� 欤检殧 毵る弰 欤检＜臧� 17,250,000欤检潣 Centuri 氤错喌欤茧ゼ 欤茧嫻 $19.50鞚� 瓿惦臧�搿� 瓿惦 毵り皝鞚� 鞕勲頄堨溂氅�, 鞚胳垬鞚鸽摛鞚� 齑堦臣氚办爼鞚� 旎る矂頃橁赴 鞙勴暣 於旉皜搿� 1,573,500欤茧ゼ 毵れ垬頃橂姅 鞓奠厴鞚� 頄夓偓頄堧嫟瓿� 瓿奠嫓頄堨姷雼堧嫟. 頃措嫻 毵る弰 欤检＜電� 靾滌垬鞚� 鞎� $325 million鞚� 氚涭晿瓿�, 須岇偓電� 攴� 毵り皝鞙茧攵�韯� 鞏措枻 靾橃澋霃� 氚涭 鞎婌晿鞀惦媹雼�.

霃欖嫓鞐� 毵る弰 欤检＜電� 1,573,500欤茧ゼ Icahn 瓿勳棿 韴瀽旮瓣磤鞐� 鞎� $31 million鞐� 毵り皝頄堨溂氅�, Centuri電� 頃措嫻 欤检嫕鞚� 鞛Г霃勲ゼ 鞙勴暣 Registration Rights Letter Agreement鞐� 霐半澕 霌彪甓岇潉 鞝滉车頃橁赴搿� 頃╈潣頄堨姷雼堧嫟. 瓯半灅 頉� 毵る弰 欤检＜電� 27,362,210欤茧ゼ 氤挫湢頃橁矊 霅橃柎 氚滍枆欤检嫕鞚� 鞎� 30.9%毳� 彀頃╇媹雼�. 須岇偓電� 霕愴暅 韸轨爼 雼轨偓鞛愳潣 鞚挫爠鞚� 30鞚缄皠 鞝滍暅頃橂姅 臁绊暛瓿� 韱奠儊鞝侅澑 歆勳垹 氚� 氅挫眳 臁绊暛鞚� 韽暔頃� J.P. Morgan瓿检潣 鞚胳垬瓿勳暯鞚� 觳搓舶頄堨姷雼堧嫟. 鞝滌稖霅� 觳秬靹滊鞐愲姅 鞚胳垬瓿勳暯靹�, 氩曤鞚橁铂靹� 氚� Registration Rights Letter Agreement臧� 韽暔霅╇媹雼�.

Centuri Holdings a d茅clar茅 qu'un important actionnaire vendeur avait r茅alis茅 une offre publique de 17 250 000 actions ordinaires Centuri au prix d'offre de $19,50 par action, les souscripteurs ayant exerc茅 une option d'achat de 1 573 500 actions suppl茅mentaires pour couvrir les surallocations. L'actionnaire vendeur a per莽u un produit net d'environ $325 millions ; la Soci茅t茅 n'a re莽u aucun produit de cette vente.

Parall猫lement, l'actionnaire vendeur a c茅d茅 1 573 500 actions 脿 des entit茅s d'investissement affili茅es 脿 Icahn pour environ $31 millions, et Centuri a accept茅 d'accorder des droits d'enregistrement pour la revente de ces actions en vertu d'une Registration Rights Letter Agreement. Apr猫s les transactions, l'actionnaire vendeur d茅tient 27 362 210 actions, soit environ 30,9% des actions en circulation. La Soci茅t茅 a 茅galement conclu un contrat de souscription avec J.P. Morgan comprenant une clause de restriction des transferts pendant 30 jours pour des parties d茅termin茅es ainsi que les d茅clarations et indemnit茅s habituelles. Les pi猫ces jointes d茅pos茅es comprennent le contrat de souscription, l'avis d'avocat et la Registration Rights Letter Agreement.

Centuri Holdings gab bekannt, dass ein gro脽er verkaufender Aktion盲r ein 枚ffentliches Angebot von 17.250.000 Centuri-Stammaktien zu einem Angebotspreis von $19,50 je Aktie abgeschlossen hat; die Konsortialf眉hrer haben eine Option ausge眉bt, weitere 1.573.500 Aktien zur Deckung von 脺berzeichnungen zu erwerben. Der verkaufende Aktion盲r erzielte Nettoerl枚se von etwa $325 Millionen; das Unternehmen selbst erhielt aus diesem Verkauf keine Erl枚se.

Gleichzeitig verkaufte der Aktion盲r 1.573.500 Aktien an Icahn-nahe Investmentgesellschaften f眉r rund $31 Millionen, und Centuri erkl盲rte sich bereit, f眉r diese Aktien Wiederverkaufs-Registrierungsrechte gem盲脽 einer Registration Rights Letter Agreement zu gew盲hren. Nach den Transaktionen h盲lt der verkaufende Aktion盲r 27.362.210 Aktien, was etwa 30,9% der ausstehenden Aktien entspricht. Das Unternehmen schloss au脽erdem ein Underwriting-Abkommen mit J.P. Morgan ab, das eine 30-t盲gige Transferbeschr盲nkung f眉r bestimmte Parteien sowie die 眉blichen Zusicherungen und Entsch盲digungen enth盲lt. Als Anlagen eingereicht wurden das Underwriting Agreement, ein Rechtsgutachten und die Registration Rights Letter Agreement.

Positive
  • Offering completed with full exercise of the underwriters' overallotment option, indicating the transaction closed as structured
  • Registration rights were granted to the Icahn investors, providing a defined resale mechanism under a registration statement
Negative
  • The Company did not receive any proceeds from the Selling Stockholder's public offering (net proceeds of approximately $325 million went to the selling stockholder)
  • Large block sale of 17,250,000 shares by the selling stockholder materially changed share distribution (selling stockholder remains at 27,362,210 shares, ~30.9% ownership)

Insights

TL;DR: Large secondary sale completed; company unchanged financially, but ownership stakes and resale mechanics materially altered.

The registrant reported a completed secondary offering by a major shareholder totaling 17,250,000 shares at $19.50 per share, with the underwriters fully exercising their overallotment option for 1,573,500 additional shares. The selling stockholder realized approximately $325 million net; the company received no proceeds, so there is no direct balance-sheet impact from the sale proceeds. The simultaneous private placement to Icahn-affiliated funds of 1,573,500 shares for roughly $31 million and the agreed resale registration mechanics change the near-term liquidity profile for those shares. The selling stockholder鈥檚 post-transaction stake of 30.9% remains a significant ownership position that investors should note for governance and control considerations.

TL;DR: Transaction shifts share distribution and grants resale rights; governance implications depend on large-holder intentions.

The company executed an Underwriting Agreement (J.P. Morgan as representative) that imposes a 30-day transfer restriction on specified insiders, the selling stockholder and certain affiliates, a standard market-protecting lock-up. Separately, a Registration Rights Letter Agreement grants the Icahn investors resale registration rights to shares acquired in the concurrent private placement, with a latest registration deadline tied to a specified 181-day timing metric. These contractual changes affect the mechanics and timing by which large-block holders may access public liquidity, and they formalize resale pathways without creating company-funded issuances or proceeds. Material governance watchers should note the continued large block ownership and the specific registration covenant granted to the Icahn investors.

Centuri Holdings ha comunicato che un importante azionista venditore ha completato un'offerta pubblica di 17.250.000 azioni ordinarie di Centuri al prezzo di offerta di $19,50 per azione, con gli underwriter che hanno esercitato l'opzione di acquistare ulteriori 1.573.500 azioni per coprire le sovraassegnazioni. L'azionista venditore ha ottenuto proventi netti per circa $325 milioni; la Societ脿 non ha ricevuto alcun ricavo da tale vendita.

Contemporaneamente, l'azionista venditore ha venduto 1.573.500 azioni a entit脿 di investimento affiliate a Icahn per circa $31 milioni, e Centuri si 猫 impegnata a concedere diritti di registrazione per la rivendita di quelle azioni ai sensi di una Registration Rights Letter Agreement. Dopo le operazioni, l'azionista venditore detiene 27.362.210 azioni, corrispondenti a circa 30,9% delle azioni in circolazione. La Societ脿 ha inoltre stipulato un accordo di collocamento con J.P. Morgan che include una restrizione di 30 giorni sui trasferimenti da parte di soggetti specificati e le consuete dichiarazioni e obblighi di indennizzo. Tra gli allegati depositati figurano il Contratto di Sottoscrizione, il parere legale e la Registration Rights Letter Agreement.

Centuri Holdings inform贸 que un importante accionista vendedor complet贸 una oferta p煤blica de 17.250.000 acciones ordinarias de Centuri a un precio de oferta de $19.50 por acci贸n, y los aseguradores ejercieron una opci贸n para comprar 1.573.500 acciones adicionales para cubrir sobresuscripciones. El accionista vendedor recibi贸 ingresos netos de aproximadamente $325 millones; la Compa帽铆a no recibi贸 ingresos por esa venta.

Simult谩neamente, el accionista vendedor vendi贸 1.573.500 acciones a entidades de inversi贸n afiliadas a Icahn por aproximadamente $31 millones, y Centuri acord贸 otorgar derechos de registro para la reventa de esas acciones conforme a una Registration Rights Letter Agreement. Tras las transacciones, el accionista vendedor posee 27.362.210 acciones, que representan aproximadamente el 30.9% de las acciones en circulaci贸n. La Compa帽铆a tambi茅n firm贸 un acuerdo de colocaci贸n con J.P. Morgan que incluye una restricci贸n de 30 d铆as sobre transferencias por parte de determinadas partes y las habituales declaraciones e indemnizaciones. Los anexos presentados incluyen el Acuerdo de Suscripci贸n, el dictamen legal y la Registration Rights Letter Agreement.

Centuri Holdings電� 欤检殧 毵る弰 欤检＜臧� 17,250,000欤检潣 Centuri 氤错喌欤茧ゼ 欤茧嫻 $19.50鞚� 瓿惦臧�搿� 瓿惦 毵り皝鞚� 鞕勲頄堨溂氅�, 鞚胳垬鞚鸽摛鞚� 齑堦臣氚办爼鞚� 旎る矂頃橁赴 鞙勴暣 於旉皜搿� 1,573,500欤茧ゼ 毵れ垬頃橂姅 鞓奠厴鞚� 頄夓偓頄堧嫟瓿� 瓿奠嫓頄堨姷雼堧嫟. 頃措嫻 毵る弰 欤检＜電� 靾滌垬鞚� 鞎� $325 million鞚� 氚涭晿瓿�, 須岇偓電� 攴� 毵り皝鞙茧攵�韯� 鞏措枻 靾橃澋霃� 氚涭 鞎婌晿鞀惦媹雼�.

霃欖嫓鞐� 毵る弰 欤检＜電� 1,573,500欤茧ゼ Icahn 瓿勳棿 韴瀽旮瓣磤鞐� 鞎� $31 million鞐� 毵り皝頄堨溂氅�, Centuri電� 頃措嫻 欤检嫕鞚� 鞛Г霃勲ゼ 鞙勴暣 Registration Rights Letter Agreement鞐� 霐半澕 霌彪甓岇潉 鞝滉车頃橁赴搿� 頃╈潣頄堨姷雼堧嫟. 瓯半灅 頉� 毵る弰 欤检＜電� 27,362,210欤茧ゼ 氤挫湢頃橁矊 霅橃柎 氚滍枆欤检嫕鞚� 鞎� 30.9%毳� 彀頃╇媹雼�. 須岇偓電� 霕愴暅 韸轨爼 雼轨偓鞛愳潣 鞚挫爠鞚� 30鞚缄皠 鞝滍暅頃橂姅 臁绊暛瓿� 韱奠儊鞝侅澑 歆勳垹 氚� 氅挫眳 臁绊暛鞚� 韽暔頃� J.P. Morgan瓿检潣 鞚胳垬瓿勳暯鞚� 觳搓舶頄堨姷雼堧嫟. 鞝滌稖霅� 觳秬靹滊鞐愲姅 鞚胳垬瓿勳暯靹�, 氩曤鞚橁铂靹� 氚� Registration Rights Letter Agreement臧� 韽暔霅╇媹雼�.

Centuri Holdings a d茅clar茅 qu'un important actionnaire vendeur avait r茅alis茅 une offre publique de 17 250 000 actions ordinaires Centuri au prix d'offre de $19,50 par action, les souscripteurs ayant exerc茅 une option d'achat de 1 573 500 actions suppl茅mentaires pour couvrir les surallocations. L'actionnaire vendeur a per莽u un produit net d'environ $325 millions ; la Soci茅t茅 n'a re莽u aucun produit de cette vente.

Parall猫lement, l'actionnaire vendeur a c茅d茅 1 573 500 actions 脿 des entit茅s d'investissement affili茅es 脿 Icahn pour environ $31 millions, et Centuri a accept茅 d'accorder des droits d'enregistrement pour la revente de ces actions en vertu d'une Registration Rights Letter Agreement. Apr猫s les transactions, l'actionnaire vendeur d茅tient 27 362 210 actions, soit environ 30,9% des actions en circulation. La Soci茅t茅 a 茅galement conclu un contrat de souscription avec J.P. Morgan comprenant une clause de restriction des transferts pendant 30 jours pour des parties d茅termin茅es ainsi que les d茅clarations et indemnit茅s habituelles. Les pi猫ces jointes d茅pos茅es comprennent le contrat de souscription, l'avis d'avocat et la Registration Rights Letter Agreement.

Centuri Holdings gab bekannt, dass ein gro脽er verkaufender Aktion盲r ein 枚ffentliches Angebot von 17.250.000 Centuri-Stammaktien zu einem Angebotspreis von $19,50 je Aktie abgeschlossen hat; die Konsortialf眉hrer haben eine Option ausge眉bt, weitere 1.573.500 Aktien zur Deckung von 脺berzeichnungen zu erwerben. Der verkaufende Aktion盲r erzielte Nettoerl枚se von etwa $325 Millionen; das Unternehmen selbst erhielt aus diesem Verkauf keine Erl枚se.

Gleichzeitig verkaufte der Aktion盲r 1.573.500 Aktien an Icahn-nahe Investmentgesellschaften f眉r rund $31 Millionen, und Centuri erkl盲rte sich bereit, f眉r diese Aktien Wiederverkaufs-Registrierungsrechte gem盲脽 einer Registration Rights Letter Agreement zu gew盲hren. Nach den Transaktionen h盲lt der verkaufende Aktion盲r 27.362.210 Aktien, was etwa 30,9% der ausstehenden Aktien entspricht. Das Unternehmen schloss au脽erdem ein Underwriting-Abkommen mit J.P. Morgan ab, das eine 30-t盲gige Transferbeschr盲nkung f眉r bestimmte Parteien sowie die 眉blichen Zusicherungen und Entsch盲digungen enth盲lt. Als Anlagen eingereicht wurden das Underwriting Agreement, ein Rechtsgutachten und die Registration Rights Letter Agreement.

False000198159900019815992025-08-062025-08-06

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): August 6, 2025
Centuri Holdings, Inc.
(Exact Name of Registrant as Specified in its Charter)
Delaware001-4202293-1817741
(State or Other Jurisdiction of Incorporation)(Commission
File Number)		(IRS Employer
Identification No.)
19820 North 7th Avenue, Suite 120
Phoenix, Arizona 85027
(Address of Principal Executive Offices)
Registrant’s telephone number, including area code: (623) 582-1235
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of exchange
on which registered
Common Stock, $0.01 per share par valueCTRINew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o


Introductory Note
On August 11, 2025, Southwest Gas Holdings, Inc. (the “Selling Stockholder”) completed a public offering (the “Offering”) of 17,250,000 shares of its holdings of Centuri Holdings, Inc. (the “Company”) common stock, par value $0.01 per share (“Centuri Common Stock”), including the underwriters’ full exercise of their option to purchase an additional 1,573,500 shares to cover over-allotments. The Offering was made under a prospectus supplement specifically relating to the Offering dated August 7, 2025 (the “Prospectus Supplement”) and related prospectus filed with the Securities and Exchange Commission pursuant to the Company’s effective shelf registration statement on Form S-3, as amended (Registration No. 333-287200). The price to the public in the Offering was $19.50 per share (the “Offering Price”). The Selling Stockholder received net proceeds of approximately $325 million, after deducting underwriter discounts and commissions. The Company did not receive any of the proceeds from the sale of shares by the Selling Stockholder. On August 11, 2025, concurrently with the closing of the Offering and as previously contemplated by, and described in, the Prospectus Supplement, the Selling Stockholder closed the sale of an aggregate of 1,573,500 shares of its holdings of Centuri Common Stock to Icahn Partners LP and Icahn Partners Master Fund LP, investment entities affiliated with Carl C. Icahn (collectively, the “Icahn Investors”) at the Offering Price in a transaction exempt from registration (the “Concurrent Private Placement”). The net proceeds to the Selling Stockholder from the Concurrent Private Placement were approximately $31 million. The Company did not receive any of the proceeds from the Concurrent Private Placement by the Selling Stockholder.

As of the closing of the Offering and the Concurrent Private Placement, the Selling Stockholder owns 27,362,210 shares of Centuri Common Stock, or approximately 30.9% of the total outstanding shares of Centuri Common Stock.

Item 1.01    Entry Into a Material Definitive Agreement.
In connection with the Concurrent Private Placement, the Company agreed to grant to the Icahn Investors certain resale registration rights, as set forth in that certain Registration Rights Letter Agreement, dated as of August 6, 2025, by and among the Company and the Icahn Investors (the “Icahn Letter Agreement”). Pursuant to the terms of the Icahn Letter Agreement, subject to certain circumstances, the Company agreed to register the resale of any shares sold to the Icahn Investors in the Concurrent Private Placement no later than the 181st day after May 22, 2025, which was the closing date of a previous private placement of Centuri Common Stock by the Selling Stockholders to the Icahn Investors. The Icahn Investors will be permitted to make sales of common stock from time to time under the resale registration statement but do not have rights to demand underwritten offerings or “piggyback” registration.

A copy of the Icahn Letter Agreement is filed as Exhibit 10.1 hereto and is incorporated herein by reference. The foregoing descriptions of the Icahn Letter Agreement do not purport to be complete and are qualified in their entirety by reference to such exhibit.

Item 8.01     Other Events.
On August 7, 2025, in connection with the Offering, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with J.P. Morgan Securities LLC, as representative (the “Representative”) of the several underwriters named therein (collectively, the “Underwriters”) and the Selling Stockholder.

Under the terms of the Underwriting Agreement, the Company, the Company’s directors and executive officers, the Selling Stockholder, the Icahn Investors and certain of their respective affiliates also agreed not to sell or transfer any Centuri Common Stock without first obtaining the written consent of the Representative, subject to certain exceptions, for 30 days after the date of the Prospectus Supplement.

The Underwriting Agreement contains customary representations, warranties, covenants, indemnification obligations of the Company, the Selling Stockholder and the Underwriters, including for liabilities under the Securities Act, and other obligations of the parties. The representations, warranties and covenants contained in the Underwriting Agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to such agreement, and may be subject to limitations agreed upon by the contracting parties. A copy of the Underwriting Agreement is filed as Exhibit 1.1 hereto and is incorporated herein by reference. The


foregoing descriptions of the Underwriting Agreement and lock-up arrangements do not purport to be complete and are qualified in their entirety by reference to such exhibit.

A copy of the opinion of Morrison & Foerster LLP relating to the validity of the securities issued and sold in the Offering is filed herewith as Exhibit 5.1.

Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.Description
1.1+
Underwriting Agreement, dated as of August 7, 2025, by and among Centuri Holdings Inc., Southwest Gas Holdings, Inc. and J.P. Morgan Securities LLC, as representative of the underwriters named therein.
5.1
Opinion of Morrison & Foerster LLP.
10.1*
Registration Rights Letter Agreement, dated as of August 6, 2025, by and among Centuri Holdings Inc., Icahn Partners LP and Icahn Partners Master Fund LP.
23.1
Consent of Morrison & Foerster LLP (included in Exhibit 5.1).
104Cover Page Interactive Data File, formatted in Inline XBRL.
+ Certain of the schedules and attachments to this exhibit have been omitted in accordance with Regulation S-K, Item 601(a)(5). The registrant hereby undertakes to provide further information regarding such omitted materials to the SEC upon request.
* Certain personal information in this exhibit has been omitted in accordance with Regulation S-K Item 601(a)(6).


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CENTURI HOLDINGS, INC.
Date: August 11, 2025
By:/s/ Gregory A. Izenstark
Gregory A. Izenstark
Executive Vice President and Chief Financial Officer

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FAQ

What did Centuri (CTRI) disclose in this Form 8-K about the share sale?

The filing reports a selling stockholder completed a public offering of 17,250,000 shares at $19.50 per share, with an additional 1,573,500 shares sold to Icahn-affiliated funds.

Did Centuri receive proceeds from the offering disclosed in the 8-K?

No. The filing states the Company did not receive any proceeds from either the public offering or the concurrent private placement.

How much did the selling stockholder receive from the public offering?

The selling stockholder received net proceeds of approximately $325 million after underwriter discounts and commissions.

What stake does the selling stockholder hold after the transactions?

After the transactions, the selling stockholder owns 27,362,210 shares, representing approximately 30.9% of Centuri's outstanding common stock.

What rights were granted to the Icahn Investors in connection with the private placement?

The Company agreed to grant the Icahn Investors certain resale registration rights under a Registration Rights Letter Agreement and to register those shares by a specified 181-day timing metric.

Were there any transfer restrictions included in the underwriting arrangements?

Yes. Under the Underwriting Agreement with J.P. Morgan as representative, certain parties agreed not to sell or transfer Centuri common stock without the representative鈥檚 consent for 30 days after the prospectus supplement, subject to exceptions.
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Centuri Holdings Inc

NYSE:CTRI

CTRI Rankings

#2122 Ranked by Market Cap
N/A Ranked by Dividends

CTRI Latest News

Sep 5, 2025
Southwest Gas Holdings Announces Completion of Centuri Separation
Sep 3, 2025
Southwest Gas Holdings Announces Pricing of Secondary Public Offering of Centuri Holdings, Inc. Common Stock
Sep 3, 2025
Centuri Announces Pricing of Secondary Public Offering of Common Stock
Sep 3, 2025
Centuri Announces Launch of Secondary Public Offering of Common Stock
Sep 3, 2025
Southwest Gas Holdings Announces Launch of Secondary Public Offering of Centuri Holdings, Inc. Common Stock

CTRI Latest SEC Filings

Sep 5, 2025
[SCHEDULE 13G/A] Centuri Holdings, Inc. SEC Filing
Sep 5, 2025
[Form 3] Centuri Holdings, Inc. Initial Statement of Beneficial Ownership
Sep 4, 2025
[424B4] Centuri Holdings, Inc. Prospectus Filed Pursuant to Rule 424(b)(4)
Aug 12, 2025
[SCHEDULE 13G/A] Centuri Holdings, Inc. SEC Filing
Aug 12, 2025
[Form 4] Centuri Holdings, Inc. Insider Trading Activity

CTRI Stock Data

1.90B
60.97M
31.22%
53.12%
2.31%
Utilities - Regulated Gas
Natural Gas Transmission & Distribution
United States
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