Latest news with #common stock
Yahoo
3 days ago
- Business
- Yahoo
Local Bounti (LOCL) Raises $10M and Cuts Debt with Convertible Note
Local Bounti Corporation (NYSE:LOCL) is one of the best NYSE penny stocks to invest in now. On August 4, the company announced that it had secured an additional $10 million in financing through the issuance of a convertible note with an existing investor. The note has a five-year maturity and an annual interest rate of 6.0%, payable in kind, meaning interest will be paid with additional securities rather than cash. Alongside this financing, Local Bounti amended its existing credit facility to reduce the principal balance by $10 million, effectively lowering its debt. As part of the transaction, the company will issue a warrant to the investor, which entitles the investor to purchase up to 550,000 shares of common stock at an exercise price of $0.125 per share. The terms of the company's senior debt facility remain consistent with those of previous restructuring agreements as of March 31, 2025. CEO Kathleen Valiasek highlighted that the new capital and debt reduction strengthen the company's balance sheet, positioning it for continued operational strength and growth. Local Bounti Corporation (NYSE:LOCL) is a U.S.-based controlled environment agriculture (CEA) company. It designs and operates indoor vertical farms to grow leafy greens and herbs. It leverages proprietary Stack & Flow technology to optimize crop yield, energy efficiency, and space utilization across its facilities in Montana, Georgia, and California. While we acknowledge the potential of LOCL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 11 Best Low-Priced Stocks to Buy Right Now and 11 Best Canadian Gold Stocks to Buy According to Hedge Funds. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
HGV Announces Launch of Secondary Public Offering of Common Stock and Concurrent Share Repurchase
ORLANDO, Fla., August 12, 2025--(BUSINESS WIRE)--Hilton Grand Vacations Inc. (NYSE:HGV) ("HGV" or the "Company") today announced a proposed secondary public offering of 7,000,000 shares of the Company's common stock held by certain entities managed by affiliates of Apollo Global Management, Inc. (the "Selling Stockholders"). The underwriters will have a 30-day option to purchase up to an additional 1,050,000 shares of common stock from the Selling Stockholders. The Company is not selling any shares and will not receive any proceeds from the proposed offering. In addition, HGV has authorized the concurrent purchase from the underwriters of up to $40 million of shares of common stock as part of the public offering (the "Share Repurchase") subject to the completion of the offering. The Share Repurchase is made pursuant to the Company's existing repurchase plans. The underwriters will not receive any underwriting fees for the shares being repurchased by the Company. Wells Fargo Securities, LLC is acting as lead book-running manager for the proposed offering. A shelf registration statement (including a prospectus) relating to these securities has been filed with the Securities and Exchange Commission (the "Commission") and is effective. A preliminary prospectus supplement relating to the offering has also been filed with the Commission. Before investing, interested parties should read the shelf registration statement, preliminary prospectus supplement and other documents filed with the Commission for information about HGV and the offering. You may get these documents for free by visiting EDGAR on the Commission's website at Alternatively, a copy may be obtained from: Wells Fargo Securities LLC, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to WFScustomerservice@ This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or 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 jurisdiction. Important Notice This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements convey management's expectations as to the future of HGV and are based on management's beliefs, expectations, assumptions and such plans, estimates, projections and other information available to management at the time HGV makes such statements. Forward-looking statements include all statements that are not historical facts, and may be identified by terminology such as the words "outlook," "believe," "expect," "potential," "goal," "continues," "may," "will," "should," "could," "would," "seeks," "approximately," "projects," "predicts," "intends," "plans," "estimates," "anticipates," "future," "guidance," "target," or the negative version of these words or other comparable words, although not all forward-looking statements may contain such words. The forward-looking statements contained in this press release include statements regarding the proposed public offering, the Share Repurchase and other anticipated future events and expectations that are not historical facts. HGV cautions you that our forward-looking statements involve known and unknown risks, uncertainties and other factors, including those that are beyond HGV's control, which may cause the actual results, performance or achievements to be materially different from the future results. Any one or more of these risks or uncertainties could adversely impact HGV's operations, revenue, operating profits and margins, key business operational metrics, financial condition or credit rating. For a more detailed discussion of these factors, see the information under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in HGV's most recent Annual Report on Form 10-K, which may be supplemented and updated by the risk factors in HGV's quarterly reports, current reports and other filings HGV makes with the SEC, including HGV's most recent Quarterly Report on Form 10-Q. HGV's forward-looking statements speak only as of the date of this communication or as of the date they are made. HGV disclaims any intent or obligation to update any "forward-looking statement" made in this communication to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. About Hilton Grand Vacations Inc. Hilton Grand Vacations Inc. (NYSE:HGV) is recognized as a leading global timeshare company and is the exclusive vacation ownership partner of Hilton. With headquarters in Orlando, Florida, Hilton Grand Vacations develops, markets, and operates a system of brand-name, high-quality vacation ownership resorts in select vacation destinations. Hilton Grand Vacations has a reputation for delivering a consistently exceptional standard of service, and unforgettable vacation experiences for guests and nearly 725,000 Club Members. Membership with the Company provides best-in-class programs, exclusive services and maximum flexibility for our Members around the world. For more information, visit Follow us on Instagram, Facebook, LinkedIn, X (formerly Twitter), Pinterest and YouTube. View source version on Contacts Media Contact: Lauren
Yahoo
08-08-2025
- Business
- Yahoo
Southwest Gas Holdings Announces Pricing of Secondary Public Offering of Centuri Holdings, Inc. Common Stock
LAS VEGAS, Aug. 7, 2025 /PRNewswire/ -- Southwest Gas Holdings, Inc. (NYSE: SWX) ("Southwest Gas Holdings" or the "Company") today announced the pricing of an underwritten secondary public offering of Centuri Holdings, Inc. (NYSE: CTRI) ("Centuri") common stock (the "Offering"), pursuant to which Southwest Gas Holdings, as the selling stockholder, is offering 15,000,000 existing shares of Centuri's common stock, at a price of $19.50 per share. Southwest Gas Holdings has also granted the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of Centuri's common stock. The Offering is expected to close on August 11, 2025, subject to customary closing conditions. In addition to the shares of Centuri's common stock sold in the Offering, Southwest Gas Holdings previously announced that Icahn Partners and Icahn Partners Master Fund LP, investment entities affiliated with Carl C. Icahn, will purchase an aggregate of 1,573,500 shares of Centuri's common stock from Southwest Gas Holdings in a concurrent private placement at a price per share equal to the Offering price per share. The concurrent private placement is expected to close immediately following the closing of the Offering and is subject to the satisfaction or waiver of customary closing conditions, including the completion of the Offering. The sale of these shares will not be registered under the Securities Act of 1933, as amended (the "Securities Act"). The closing of the Offering is not conditioned upon the closing of the concurrent private placement. J.P. Morgan, Wells Fargo Securities, BofA Securities and Moelis & Company are acting as joint lead book-running managers for the Offering. Baird, BTIG, KeyBanc Capital Markets, MUFG, and UBS Investment Bank are acting as book-running managers for the Offering. Siebert Williams Shank is acting as co-manager for the Offering. The shares are being offered pursuant to an effective shelf registration statement (including a base prospectus) that has been filed by Centuri with the U.S. Securities and Exchange Commission (the "SEC"). A preliminary prospectus supplement relating to and describing the terms of the offering will be filed by Centuri with the SEC and will be available on the SEC's website at The Offering will be made only by means of a prospectus supplement and accompanying prospectus that forms a part of the registration statement, copies of which may be obtained, when available, by request from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@ and postsalemanualrequests@ Wells Fargo Securities, LLC, Attention: Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to WFScustomerservice@ BofA Securities, Inc., Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, or by email at or Moelis & Company LLC, Attention: Moelis & Company LLC, 399 Park Avenue, 4th Floor, New York, New York 10022 at (800) 539-9413. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or 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 jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act. About Southwest Gas Holdings Southwest Gas Holdings, Inc., through its primary operating subsidiary Southwest Gas Corporation, engages in the business of purchasing, distributing, and transporting natural gas. Southwest Gas Corporation is a dynamic energy company committed to exceeding the expectations of over 2 million customers throughout Arizona, Nevada, and California by providing safe and reliable service while innovating sustainable energy solutions to fuel the growth in its communities. In addition, Southwest Gas Holdings, Inc. is the majority owner of Centuri Holdings, Inc., which provides comprehensive utility infrastructure services across North America. About Centuri Centuri Holdings, Inc. is a strategic utility 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, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include, without limitation, statements regarding Southwest Gas Holdings' 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 expectations with respect to the closing of the Offering and the concurrent private placement and whether the underwriters will exercise their option to purchase additional shares. A number of important factors affecting the business and financial results of Southwest Gas Holdings and/or Centuri could cause actual results to differ materially from those stated in the forward-looking statements. These factors include, but are not limited to, the timing of a separation of our remaining interests in Centuri, the timing and impact of executing (or not executing) such transaction alternatives, the timing and amount of rate relief, changes in rate design, customer growth rates, the effects of regulation/deregulation, tax reform and similar changes and related regulatory decisions, the impacts of construction activity at Centuri, the potential for, and the impact of, a credit rating downgrade, the costs to integrate new businesses, future earnings trends, inflation, sufficiency of labor markets and similar resources, seasonal patterns, current and future litigation, and the impacts of stock market volatility. Factors that could cause actual results to differ also include (without limitation) those discussed in Southwest Gas Holdings' and Centuri's respective periodic reports filed from time to time with the SEC, including Southwest Gas Holdings' and Centuri's most recent Annual Reports on Form 10-K under the heading "Risk Factors" and "Quantitative and Qualitative Disclosure about Market Risk," as well as the prospectus supplement relating to the Offering filed with the SEC. The statements in this press release are made as of the date of this press release, even if subsequently made available by Southwest Gas Holdings and/or Centuri on their websites or otherwise. Southwest Gas Holdings does not assume any obligation to update any 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. View original content to download multimedia: SOURCE Southwest Gas Holdings, Inc. 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