Centuri falls after $235 mln equity raise as Icahn pitches in

Reuters
2025.11.13 12:49
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Centuri Holdings' shares fell 2.6% premarket to $21.55 after a $235 million equity raise. The company sold ~7.4 million shares for $160 million and Carl Icahn's entities bought ~3.5 million shares for $75 million. Proceeds will fund acquisitions and debt repayment. JP Morgan, Wells Fargo, BofA, and KeyBanc led the offering. Centuri has ~88.6 million shares outstanding with a $2 billion market cap. Year-to-date, shares are up nearly 15%.

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