LAS VEGAS, Nov. 26, 2018 /PRNewswire/ -- Southwest Gas
Holdings, Inc. (NYSE: SWX) (the "Company") today announced that it
has commenced an underwritten public offering of 3,100,000 shares
of its common stock. The Company expects to grant the underwriters
a 30-day option to purchase up to an additional 465,000 shares of
common stock.
The Company intends to use the net proceeds from the offering to
finance, in part, its acquisition of Linetec Services, LLC
("Linetec"), including the payment of related fees and expenses.
Pending the closing of the Linetec acquisition, the Company may use
net proceeds from this offering to temporarily repay $22.5 million under its credit facility. If the
acquisition of Linetec is not consummated for any reason, the
Company intends to use all net proceeds from the offering for
general corporate purposes.
J.P. Morgan, BofA Merrill Lynch and Wells Fargo Securities are
acting as joint book-running managers for the offering.
This offering may only be 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; BofA Merrill Lynch, NC1-004-03-43, 200 North
College Street, 3rd floor, Charlotte,
NC 28255-0001, Attn: Prospectus Department, or email at
dg.prospectus_requests@baml.com; and Wells Fargo Securities,
Attention: Equity Syndicate Department, 375 Park Avenue,
New York, New York, 10152, at
(800) 326-5897 or email a request to
cmclientsupport@wellsfargo.com.
The offering is being made pursuant to a shelf registration
statement filed with the SEC on December 13,
2017. 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. has two business segments:
Southwest Gas Corporation provides safe and reliable natural gas
service to over two million customers in Arizona, Nevada, and California.
Centuri Construction Group, Inc. is a comprehensive utility
infrastructure services enterprise dedicated to meeting the growing
demands of North American utility, energy, and industrial markets.
Centuri derives revenue from installation, replacement, repair, and
maintenance of energy distribution systems, and developing
industrial infrastructure solutions.
Forward-Looking Statements
This press release
may include "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. The ultimate
occurrence of events and results referenced in these
forward-looking statements is subject to known and unknown risks,
uncertainties, and other factors that may cause the actual results
or performance to differ from those projected in the
forward-looking statement. These statements relate to the Company's
offering of common stock, the anticipated use of the net proceeds
and the anticipated acquisition of Linetec. No assurance can be
given that the offering or the Linetec acquisition will be
completed on the terms described, or at all, or that the net
proceeds from the offering will be used as
indicated. Completion of the offering on the terms described,
the Linetec acquisition and the application of the net proceeds,
are subject to numerous conditions, many of which are beyond the
control of the Company, including market conditions, general
economic conditions and other factors, including those set forth
under the heading "Risk Factors" in the Company's Annual
Report on Form 10-K for the year ended December 31, 2017, and those set forth in the
Company's other reports and information filed with the SEC, which
are accessible on the SEC's website at www.sec.gov.
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SOURCE Southwest Gas Holdings, Inc.