BUZZ-Centrus Energy slides on planned convertible debt deal

Reuters
04 Nov 2024

** Centrus Energy's shares down 14.7% premarket to $93.40 as co seeks capital raise ** Bethesda, Maryland-based nuclear fuel supplier offering privately $350 mln 6-yr convertible bonds

** It plans to use net proceeds for general purposes, include investment in technology development or deployment, debt paydown, capex, potential acquisitions

** Co has ~$1.8 bln market cap, per LSEG data ** On Oct 18, LEU shares jumped ~22% to close at $98.59, a day after co was awarded uranium production contract by U.S. DOE for new reactors ** Through Fri close, stock doubled since end-Sept. Shares have been aided recently as likes of Amazon.com and Alphabet's Google inked deals last month to develop nuclear power technology to meet surging electricity demand from data centers

(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper.thomsonreuters.com@reuters.net lance.tupper@tr.com 1-646-279-6380))

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