Southwest Gas Holdings Inc (NYSE:SWX) is trading lower in Monday's after-hours session after the company announced it commenced an underwritten public offering of $400 million of its common stock.
Southwest Gas said it intends to use the proceeds to repay outstanding borrowings under the 364-day term loan credit agreement that was used to fund the company's acquisition of Questar Pipeline.
Southwest Gas, through its subsidiaries, engages in the business of purchasing, distributing and transporting natural gas, and providing comprehensive utility infrastructure services across North America.
From Last Week: Carl Icahn On The Fallout Of Corporate America: 'There Very Well Could Be A Recession Or Worse'
SWX 52-Week Range: $62.54 - $80.42
The stock was down 5.04% in after hours at $75.50 at press time.
Photo: jp26jp from Pixabay.
