Centrus Energy Shares Fall After $350M Debt Offering

Dow Jones

Nov 04, 2024

By Rob Curran

Centrus Energy's stock price fell after the provider of enriched uranium launched a $350 million sale of convertible debt, and amid a setback for the domestic nuclear industry.

Shares of Centrus were down 13% at $95 in premarket trading Monday.

The Bethesda, Md., company said it would sell $350 million of convertible senior notes due 2030, with up to an additional $52.5 million offered to buyers within 13 days of the issue. The notes will pay interest semiannually in arrears on May 1 and Nov. 1 of each year, beginning on May 1, 2025.

Shares of nuclear-power companies fell after the Federal Energy Regulatory Commission on Friday rejected a proposal from Talen Energy to provide an Amazon data center with nuclear power.

Centrus said it will use the proceeds for general corporate purposes, which could include development of technology and acquisitions.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

November 04, 2024 09:13 ET (14:13 GMT)

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