Centrus Energy (LEU) said Tuesday it has priced $350 million of 2.25% convertible senior notes due 2030 via a private offering.
The initial buyers of the notes were given a 13-day option to buy up to an additional $52.5 million of the notes, with the sale to the initial buyers expected to settle Thursday, the company said.
Initially, the conversion rate for the notes will be 10.2564 class A Centrus shares per $1,000 principal amount of notes, the company said, adding that the rate will be subject to adjustment.
The company said it expects net proceeds of about $337.9 million, or about $388.7 million if the initial buyers fully exercise their option to buy more notes. The net proceeds will be used for general working capital and corporate purposes, Centrus Energy said.
Centrus shares were down 4.2% in recent Tuesday trading.
Price: 74.81, Change: -3.19, Percent Change: -4.09
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