Centrus Launches Underwritten Offering of Stock and Warrants
LEU sits 27% above its 52-week low of $142.13.
Summary
Centrus Energy announced an underwritten public offering of Class A common stock, pre-funded warrants, and common warrants. The offering was priced at $199.64 per share and $199.54 per pre-funded warrant, with common warrants exercisable at $226.8625, $272.2350, $317.6075, and $362.98 per share across four series, and closing is September 11, 2026. Proceeds are earmarked for general working capital, technology development, debt repayment, capital expenditures, and potential acquisitions. This follows a string of positive contract announcements, including a $900 million DOE contract and supply deals with X-energy and Radiant. The offering introduces dilution risk and may pressure the stock, though the company's record $4.5 billion backlog and HALEU expansion provide fundamental support. Guggenheim Securities and Barclays are managing the deal.
Updated with an SEC FWP filing · What changed
Updates
· SEC FWP — Centrus priced the offering at $199.64 per share and $199.54 per pre-funded warrant, with common warrants exercisable at $226.8625, $272.2350, $317.6075, and $362.98 per share across four series. Closing is September 11, 2026.
· SEC 424B5 — The preliminary prospectus details four series of common warrants with exercise prices at 125%, 150%, 175%, and 200% of the reference price, each split into two tranches expiring on staggered anniversaries.
At the time of this announcement, LEU was trading at $180.91 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $3.6B. The 52-week trading range was $142.13 to $464.25. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: PR Newswire.