Centrus prices $350M 2.25% convertible notes due 2030; conversion premium ~25%

CENTRUS ENERGY CORP

$350M aggregate principal of 2.25% convertible senior notes due 2030, plus $52.5M overallotment option.
Conversion price ~$97.50/share (~25% premium to Nov 4 close); initial rate 10.2564 shares per $1,000.
Net proceeds ~$337.9M ($388.7M if overallotment exercised) for working capital, tech, debt repayment.
Notes are senior unsecured, effectively junior to existing 8.25% notes due 2027; not redeemable before Nov 8, 2027.
Offering expected to settle Nov 7, 2024; issued to QIBs under Rule 144A.

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