BUZZ-Nuclear co Centrus slides on $1 bln stock sale plans

Reuters
Yesterday
BUZZ-Nuclear co Centrus slides on $1 bln stock sale plans

** Shares of nuclear fuel supplier Centrus Energy LEU.A down 14% at $280.09, a six-week low, early Thurs as it looks to raise equity

** Bethesda, Maryland-based LEU announces $1 bln "at-the-market" (ATM) equity sales program with Barclays, Citi, UBS and Evercore as lead agents

** Co intends to use proceeds from any sales for general purposes, including investment in technology development or deployment, repayment or repurchase of outstanding debt, capex, potential acquisitions, among other purposes

** As of Nov 1, LEU had ~18.2 mln shares outstanding, filing shows, for about $5.9 bln market cap through Weds

** In Aug, LEU announced pricing $700 mln 0% 7-yr convertible bonds offering for general purposes

** Even with the decline on Thurs, shares have more than quadrupled YTD

** 10 of 15 analysts rate LEU "strong buy" or "buy", rest rate "hold"; median PT is $270.68, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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