LAS
VEGAS, March 7, 2023 /PRNewswire/ -- Southwest
Gas Holdings, Inc. (NYSE: SWX) (the "Company") today announced that
it has commenced an underwritten public offering of $215,000,000 in shares of its common stock. The
Company expects to grant the underwriters a 30-day option to
purchase up to an additional $32,250,000 of shares of its common stock.
The Company intends to use the net proceeds from the offering to
repay outstanding borrowings under its credit facility and the
remaining amounts due under the amended 364-day term loan credit
agreement entered into in November
2021 in connection with the acquisition of MountainWest
Pipelines Holding Company, and the remainder for working capital
and general corporate purposes.
J.P. Morgan and BofA Securities are acting as joint book-running
managers for the offering.
This offering is only being made by means of a prospectus
supplement and the accompanying prospectus. Copies of the
preliminary prospectus supplement and accompanying prospectus
related to the offering may be obtained, when available, by
visiting EDGAR on the Securities and Exchange Commission's (the
"SEC") website at www.sec.gov or from J.P. Morgan Securities
LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, Toll-free:
1-866-803-9204; and BofA Securities, Inc., NC1-004-03-43, 200 North
College Street, 3rd floor, Charlotte,
NC 28255-0001, Attn: Prospectus Department, or email at
dg.prospectus_requests@bofa.com.
The offering is being made pursuant to a shelf registration
statement on Form S-3 filed by the Company with the SEC on
December 2, 2020. A preliminary
prospectus supplement relating to the offering will be filed with
the SEC. This press release shall not constitute an offer to sell
or the solicitation of an offer to buy any of these securities, nor
shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction.
About Southwest Gas Holdings, Inc.
Southwest
Gas Holdings, Inc., through its subsidiaries, engages in the
business of purchasing, distributing and transporting natural gas,
and providing comprehensive utility infrastructure services across
North America. Southwest Gas
Corporation, a wholly owned subsidiary, safely and reliably
delivers natural gas to over two million customers in Arizona, California and Nevada. Centuri Group, Inc., a wholly owned
subsidiary, is a strategic infrastructure services company that
partners with regulated utilities to build and maintain the energy
network that powers millions of homes and businesses across
the United States and
Canada.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such statements
include, without limitation, statements regarding Southwest Gas
Holdings, Inc. (the "Company" or "Southwest Gas") and its wholly
owned subsidiary, Southwest Gas Corporation, and the Company's
expectations or intentions regarding the future. These
forward-looking statements can often be identified by the use of
words such as "will", "predict", "continue", "forecast", "expect",
"believe", "anticipate", "outlook", "could", "target", "project",
"intend", "plan", "seek", "estimate", "should", "may" and "assume",
as well as variations of such words and similar expressions
referring to the future, and include (without limitation)
statements regarding the offering and anticipated use of proceeds
therefrom. Factors that could cause actual results to differ also
include (without limitation) those discussed under the heading
"Risk Factors" in Southwest Gas Holdings, Inc.'s most recent
Annual Report on Form 10-K. The statements in this press release
are made as of the date of this press release, even if subsequently
made available by the Company on its Web site or otherwise. The
Company does not assume any obligation to update the
forward-looking statements, whether written or oral, that may be
made from time to time, whether as a result of new information,
future developments, or otherwise.
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SOURCE Southwest Gas Holdings, Inc.