Centrus Energy slides on planned convertible debt deal
04/11/2024 12:49
** Centrus Energy's LEU.N 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 AMZN.O and
Alphabet's Google GOOGL.O 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))