Centrus Prices $500M Offering with $2B in Warrant Exercise Potential
LEU sits 19% above its 52-week low of $142.13.
Summary
Centrus Energy priced a $500 million underwritten offering of common stock and pre-funded warrants, with attached common warrants carrying up to $2 billion in aggregate exercise price. The deal closes today.
Key Events · Financing and Capital Events · LEU
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Offering Priced at $199.64 Per Share
500,000 shares of Class A common stock priced at $199.64, plus pre-funded warrants at $199.54 each, for approximately $500 million in aggregate offering price.
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Four Warrant Series Add $2B Exercise Potential
Common warrants across Series A-D carry exercise prices from $226.86 to $362.98, with aggregate exercise price of approximately $2 billion if fully exercised — representing up to 6,992,382 additional shares.
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Highly Dilutive Structure
Warrant coverage is more than 13 times the 500,000 shares sold directly, creating substantial potential overhang on the share count.
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Closing Today
Trade date was September 10, 2026, with closing scheduled for September 11, 2026 — the same day as this filing.
Analysis · LEU · Energy & Transportation
Centrus Energy finalized terms for a substantial capital raise: 500,000 shares at $199.64 plus pre-funded warrants at $199.54, with common warrants across four series carrying exercise prices from $226.86 to $362.98. The total exercise price across all warrant series is approximately $2 billion, meaning if all warrants are exercised, the company would receive roughly $2.5 billion in aggregate proceeds. This is a highly dilutive structure — the common warrants alone represent up to 6,992,382 additional shares, more than 13 times the 500,000 shares being sold directly. The offering closes today, September 11, 2026. Against a backdrop of a $4.5 billion backlog and multiple HALEU supply contracts signed in recent months, the raise funds expansion but at meaningful cost to existing shareholders.
How filings like this one have moved
In the 30 days to Sep 11, 2026, 36.1% of the 1753 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.04%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, LEU was trading at $169.00 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $3.3B. The 52-week trading range was $142.13 to $464.25. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.