07:36 AM EST, 11/13/2025 (MT Newswires) -- Centuri ( CTRI ) said Thursday it priced an underwritten public offering of 7.4 million shares for gross proceeds of about $160 million.

The company said it also granted underwriters a 30-day option to purchase up to an additional 1.1 million shares.

The offering is expected to close on Friday, it added

Separately, the company said Icahn Partners LP and Icahn Partners Master Fund, investment entities affiliated with Carl Icahn, will purchase an aggregate of 3.5 million shares at the same price as the public offering in a private placement.

The private placement is expected to close immediately after the public offering, the company said, adding that the closing of the offering is not contingent on the private placement.

Centuri ( CTRI ) said it intends to use the net proceeds from both the offering and private placement for general corporate purposes, which may include funding acquisitions and repaying borrowings under its current credit agreement.