Centrus Energy Corp. (NYSE American: LEU) has announced its intention to offer $650 million aggregate principal amount of convertible senior notes due 2032 in a private offering. The company also plans to grant the initial purchasers of the notes an option to purchase up to an additional $100 million aggregate principal amount of the notes.
The notes will bear interest semiannually in arrears on February 15 and August 15 of each year, beginning on February 15, 2026, and will mature on August 15, 2032. Prior to May 15, 2032, the notes will be convertible at the option of the holders only upon the satisfaction of specified conditions and during certain periods. After May 15, 2032, the notes will be convertible at the option of the holders at any time.
Centrus expects to use the net proceeds from this offering for general corporate purposes. The notes will be offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act.
Centrus Energy is a trusted American supplier of nuclear fuel and services for the nuclear power industry, providing utility customers with more than 1,850 reactor years of fuel since 1998. The company aims to meet the growing need for clean, affordable, carbon-free energy and is pioneering the production of high-assay, low-enriched uranium while leading the effort to restore America's uranium enrichment capabilities at scale.
No offer or sale of the notes will be made in any state or jurisdiction where it would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Following these announcements, the company's shares moved -0.79%, and are now trading at a price of $217.37. If you want to know more, read the company's complete 8-K report here.
