Centrus Energy - LEU STOCK NEWS

Centrus Energy Corp. (NYSE American: LEU) announced the final results of its tender offer to buy back up to $60 million of its Series B Senior Preferred Stock. The purchase price was set at $954.59 per share, a 25% discount from the liquidation value. The offer, which closed on November 17, 2020, was oversubscribed with 62,854 shares accepted for purchase, representing approximately 60% of the outstanding shares. A final proration factor of 67.815% was applied, with 92,735 shares tendered.

Centrus Energy Corp. (LEU) announced the preliminary results of its cash tender offer to purchase up to $60 million of its Series B Senior Preferred Stock, set at $954.59 per share, a 25% discount from the liquidation price. The offer, which expired on November 17, 2020, was oversubscribed with approximately 92,735 shares tendered. The company expects to purchase about 60% of the outstanding shares on a pro rata basis, with a preliminary proration factor of 67%. Payment for shares will be made on or around November 20.

Centrus Energy Corp. reported a net loss of $7.0 million for Q3 2020, a significant drop compared to a net income of $22.8 million in Q3 2019. The loss per share was $0.83, down from $2.18. Total revenue fell to $33.6 million, down $71.1 million year-over-year, with no SWU deliveries contributing to a 79% decline in this segment. However, the company anticipates higher revenue in Q4 2020. Cash balance at the end of Q3 was $152.8 million. Despite challenges, Centrus is on schedule for its HALEU demonstration plant completion in 2022.

Centrus Energy Corp. (NYSE: LEU) will host a quarterly conference call on November 13, 2020, at 8:30 a.m. ET, to discuss its third quarter earnings report for 2020, which will be released post-market on November 12, 2020. The call will be accessible via the Company’s website, with a playback available until November 23, 2020. Centrus has been a key supplier of nuclear fuel, providing over 1,750 reactor years of fuel since 1998, equivalent to 7 billion tons of coal. For more details, visit www.centrusenergy.com.

Centrus Energy Corp. (NYSE American: LEU) announced a tender offer to purchase up to $60 million of its Series B Senior Preferred Stock at $954.59 per share, expiring on November 17, 2020. The tender offer is not contingent on financing and will be conducted on a pro rata basis if over $60 million is tendered. As of September 30, 2020, 104,574 Series B shares were outstanding, with an aggregate liquidation preference of approximately $133.1 million. Shareholders are advised to review the tender offer documents and consult their advisors.

Terrestrial Energy USA and Centrus Energy Corp have signed a memorandum of understanding to secure fuel supply for Integral Molten Salt Reactor (IMSR) power plants. The collaboration will evaluate the logistical, regulatory, and transportation requirements for using standard-assay low-enriched uranium (LEU) fuel. The IMSR technology promises affordable, reliable, carbon-free electricity, generating 195 MW with high thermal efficiency. This partnership aims to establish a supply chain necessary for the commercial deployment of these innovative reactors.

Centrus Energy Corp. (NYSE American: LEU) is partnering with TerraPower to establish domestic production of high-assay, low-enriched uranium (HALEU), essential for next-generation reactors. This initiative supports TerraPower's application for the Department of Energy's Advanced Reactor Demonstration Program (ARDP), aiming for operational reactors in the next 5-7 years. The project includes a new metal fuel fabrication facility and aims to enhance U.S. nuclear capabilities, crucial for the Natrium Power Storage System. The initiative is backed by a $115 million contract with the Department of Energy.

Centrus Energy Corp. (NYSE American: LEU) has priced an underwritten public offering of 2,350,000 shares of Class A Common Stock at $10.00 per share, aiming to raise approximately $21.5 million after expenses. The company plans to utilize the funds for general working capital, technology development, and debt repayment, including for its Series B Senior Preferred Stock. The offering is set to close around August 25, 2020. Roth Capital Partners is the sole book-running manager for this offering.

Centrus Energy Corp. (LEU) reported a net income of $33.7 million for Q2 2020, reversing a net loss of $15.6 million from the previous quarter. Revenue surged to $75.7 million, driven by a significant increase in LEU segment sales. The company realized a gross profit of $43.8 million, a stark contrast to the gross loss of $4.3 million in Q2 2019. However, selling, general and administrative expenses rose by 35%. With a solid cash balance of $119.3 million, Centrus continues to advance its HALEU program despite COVID-19 challenges.