10:44 AM EST, 11/05/2024 (MT Newswires) -- Centrus Energy ( LEU ) said Tuesday it has priced $350 million of 2.25% convertible senior notes due 2030 via a private offering.

The initial buyers of the notes were given a 13-day option to buy up to an additional $52.5 million of the notes, with the sale to the initial buyers expected to settle Thursday, the company said.

Initially, the conversion rate for the notes will be 10.2564 class A Centrus shares per $1,000 principal amount of notes, the company said, adding that the rate will be subject to adjustment.

The company said it expects net proceeds of about $337.9 million, or about $388.7 million if the initial buyers fully exercise their option to buy more notes. The net proceeds will be used for general working capital and corporate purposes, Centrus Energy ( LEU ) said.

Centrus shares were down 4.2% in recent Tuesday trading.

Price: 74.81, Change: -3.19, Percent Change: -4.09