05:07 PM EST, 11/12/2025 (MT Newswires) -- Centuri ( CTRI ) said late Wednesday it has launched a $160 million public offering of common stock, with underwriters expected to be granted a 30-day option to purchase up to an additional $24 million of shares.

Affiliates of Carl Icahn will buy about $75 million of shares in a concurrent private placement at the same price as the public offer, the company said.

Proceeds will be used for general corporate purposes, including acquisitions and debt repayment, the company said.