Energy company Centuri plans to sprint to the New York Stock Exchange: the valuation is up to $1.8 billion, and the roadshow PPT is exposed
author：Thunder delivery
Energy company Centuri plans to sprint to the New York Stock Exchange: the valuation is up to $1.8 billion, and the roadshow PPT is exposed
Lei Jianping on April 14
Centuri Holdings, a U.S. utility infrastructure company, has updated its prospectus to be listed on the New York Stock Exchange under the ticker symbol: "CTRI".
Centuri offered 1,240 shares in a range of $18 to $21, raising up to $260 million. Icahn Partners LP and Icahn Partners Master Fund LP, the investment entities affiliated with Carl C. Icahn ("Icahn Investors"), have agreed to purchase 2.59 million shares of common stock simultaneously in a private placement at a price equal to the initial offering price per share.
Centuri intends to use the proceeds to repay its debts, pay issuance expenses, and for general corporate and working capital purposes.
Centuri can be valued at $1.8 billion at its peak.
Annual revenue of $2.9 billion
Energy company Centuri plans to sprint to the New York Stock Exchange: the valuation is up to $1.8 billion, and the roadshow PPT is exposed
Founded in 1909, Centuri has been serving natural gas distribution and electric utilities for more than 110 years.
Energy company Centuri plans to sprint to the New York Stock Exchange: the valuation is up to $1.8 billion, and the roadshow PPT is exposed
Centuri is committed to being a leader in safe, sustainable utility services by becoming a long-term strategic partner to regulated utilities building and maintaining the energy networks that power millions of homes and businesses in the U.S. and Canada.
Energy company Centuri plans to sprint to the New York Stock Exchange: the valuation is up to $1.8 billion, and the roadshow PPT is exposed
According to the prospectus, Centuri's revenue in 2023 will be $2.9 billion, up 5% from $2.76 billion in the same period last year, with an operating loss of $77.56 million, compared with an operating loss of $101 million in the same period last year, and a net loss of $185 million, compared with a net loss of $165 million in the same period last year.
Centuri expects revenue of $525 million to $530 million for the first quarter of 2024, compared to $653 million for the year-ago quarter, a net loss of $26.7 million to $24.7 million, compared to a net loss of $7.1 million for the year-ago quarter, and adjusted EBITDA of $19.0 million to $20.5 million, compared to $49.2 million for the year-ago quarter.
Energy company Centuri plans to sprint to the New York Stock Exchange: the valuation is up to $1.8 billion, and the roadshow PPT is exposed
