Monitor for any 424B prospectus supplements indicating the timing and method of Icahn's sales. The registration does not change Centuri's fundamentals. Overhang from potential Icahn selling is already known; focus on the company's operational execution and backlog growth for trading cues.
Price Chart
Executive Summary
Centuri filed an automatic shelf registration (S-3ASR) to register 3,488,372 shares of common stock for resale by Icahn-affiliated selling stockholders. These shares were issued in a November 2025 private placement and the company receives no proceeds. The registration fulfills contractual obligations under a registration rights agreement and does not represent new dilution or capital raise.
Key Facts
- 3,488,372 shares registered for resale by entities affiliated with Carl Icahn
- Shares were issued in a private placement on November 11, 2025
- Company receives no proceeds from any resale
- Icahn group owned 14.2% (14.3M shares) before offering, would hold 10.7% if all registered shares are sold
- Stock price as of May 12, 2026: $31.68 per share
- Registration is contractual, not opportunistic or distress-driven
Financial Impact
No financial impact to Centuri as it receives no proceeds; potential for modest selling pressure if Icahn entities reduce position, but shares are already outstanding.
Risk Factors
- Icahn entities may sell shares in the open market, creating temporary selling pressure
- No new capital raised, so no benefit to balance sheet
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| S-3ASR Filing (Primary) | 0001628280-26-034589 |
| Exhibit: exhibit51-sx3asr.htm | 0001628280-26-034589 |
| Exhibit: exhibit231-sx3asr.htm | 0001628280-26-034589 |
| Document: ctriexfilingfees.htm | 0001628280-26-034589 |
| Document: 0001628280-26-034589-index-headers.html | 0001628280-26-034589 |
| Document: 0001628280-26-034589-index.html | 0001628280-26-034589 |
| Document: 0001628280-26-034589.txt | 0001628280-26-034589 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 12, 2026 7w ago | 3 | $23.09 $20.16 | ▼ −12.69% | ▼ −10.94% | $20.91 (−9.44%) |
Aug 12, 2026 7w ago | 3 | $23.09 $20.16 | ▼ −12.69% | ▼ −10.94% | $20.91 (−9.44%) |
Aug 12, 2026 7w ago | 8-K | $23.09 $20.16 | ▼ −12.69% | ▼ −10.94% | $20.91 (−9.44%) |
Aug 4, 2026 8w ago | 8-K | $21.88 $20.49 | ▼ −6.35% | ▼ −5.11% | $20.91 (−4.43%) |
Jun 12, 2026 16w ago | Institutional Cluster | $30.35 $25.67 | ▼ −15.42% | ▼ −17.20% | $20.91 (−31.10%) |
Jun 11, 2026 16w ago | Institutional Cluster | $29.73 $26.28 | ▼ −11.60% | ▼ −13.50% | $20.91 (−29.67%) |
May 13, 2026 20w ago | S-3ASR | $32.46 $30.35 | ▼ −6.50% | ▼ −5.64% | $20.91 (−35.58%) |
May 6, 2026 21w ago | 8-K | $33.60 $30.39 | ▼ −9.55% | ▼ −12.69% | $20.91 (−37.77%) |
Feb 28, 2026 30w ago | Institutional Cluster | $30.94 $27.80 | ▼ −10.15% | ▼ −2.21% | $20.91 (−32.42%) |
Feb 25, 2026 31w ago | 8-K | $30.67 $30.45 | ▼ −0.72% | ▲ +4.52% | $20.91 (−31.82%) |
US Market Status
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