Centrus Energy Corp.
Centrus Energy Announces Pricing of $350 Million Convertible Senior Notes Offering
Summary
On November 5, 2024, Centrus Energy Corp. announced the pricing of its $350 million aggregate principal amount of 2.25% convertible senior notes due 2030 in a private placement. The notes offer a conversion option into Class A common stock at an initial conversion rate of 10.2564 shares per $1,000 principal amount, with a conversion premium of approximately 25%. The notes will bear interest at a rate of 2.25% per year, payable semiannually, and mature on November 1, 2030. Centrus estimates the net proceeds from the offering will be approximately $337.9 million, intended for general working capital and corporate purposes.
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About Centrus Energy Corp.
Centrus Energy Corp. is a diversified energy company focusing on the supply of nuclear fuel and services for the global nuclear power industry. The primary function of the company is to provide enriched uranium, a critical component in the production of nuclear energy. Centrus Energy plays a significant role in the nuclear fuel cycle, participating in activities that range from uranium enrichment to nuclear fuel sales. This firm is vital to the power generation sector, particularly in regions where nuclear power is a significant energy source. With its versatile offerings, Centrus Energy engages with both domestic and international markets, reflecting its strategic importance in maintaining the reliability and efficiency of nuclear energy production. Its operations ensure the availability of supply chains for nuclear power plants, contributing to energy security and environmentally sustainable energy solutions. Headquartered in Bethesda, Maryland, Centrus continues to support the transition towards cleaner energy alternatives and remains a key player in the evolving landscape of global energy production.
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