Centrus Energy to Issue $650M Convertible Notes

Centrus Energy plans to raise $650M through a private offering of convertible senior notes due 2032. The company also expects to grant purchasers a 13-day option to buy an additional $100M of notes. The notes will bear semiannual interest and can be converted into shares of Centrus Energy's common stock.

Centrus Energy Corp. (NYSE American: LEU) has announced plans to raise $650 million through a private offering of convertible senior notes due in 2032. The company expects to grant purchasers an option to buy an additional $100 million of notes within a 13-day period following the initial issuance. The notes will bear semiannual interest and can be converted into shares of Centrus Energy's common stock.

The notes, which will be senior and unsecured obligations of Centrus, will be offered only to qualified institutional buyers under Rule 144A of the Securities Act of 1933. The initial conversion rate, conversion price, and interest rate will be determined at the time of pricing. The notes will mature on August 15, 2032, unless earlier repurchased, redeemed, or converted.

Centrus Energy expects to use the net proceeds from this offering for general corporate purposes. The company has a history of providing nuclear fuel and services to the nuclear power industry, helping meet the growing need for clean, carbon-free energy.

Forward-Looking Statements

This news release includes forward-looking statements related to the timing and amount of the offering, the satisfaction of customary closing conditions, and the anticipated use of the net proceeds. These statements are subject to risks and uncertainties, including those related to the U.S. Department of Energy's (DOE) task orders under various contracts and the company's ability to secure financing and expand its plant capacity.

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[1] https://www.prnewswire.com/news-releases/centrus-announces-proposed-private-offering-of-650-million-of-convertible-senior-notes-due-2032-302528225.html