Nuclear firm Centrus falls on $500 mln stock-and-warrants offering
BUZZ-Nuclear firm Centrus falls on $500 mln stock-and-warrants offering ** Nuclear fuel supplier Centrus Energy's LEU.N shares down 3% at $176 premarket on Thurs after $500 mln follow-on priced
** Low-Enriched Uranium producer late Weds announced 500,000 shares and pre-funded warrants to buy ~2 mln shares at $199.64
** Offering includes four series of accompanying warrants to purchase up to ~6.99 mln shares; warrants exercisable at 125%, 150%, 175% and 200% above stock's last close of $181.49, per the prospectus
** Bethesda, Maryland-based LEU has ~19.2 mln shares outstanding
** It intends to use net offering proceeds for general working capital and corporate purposes, including investment in technology development and deployment, repayment/repurchase of debt, capex, potential acquisitions, among other purposes
** Guggenheim Secs and Barclays are bookrunners
** Through Weds, LEU stock down 25% YTD
** 11 of 18 analysts rate the stock "strong buy" or "buy", 7 "hold"; median PT $240, per LSEG
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))