BETHESDA, Md., Nov. 20, 2020 /PRNewswire/ -- Centrus Energy
Corp. (NYSE American: LEU) ("Centrus" or the "Company") today
announced the final results of its tender offer to purchase up to
$60 million of its Series B Senior
Preferred Stock, par value $1.00 per
share (the "Series B Preferred Shares"), at a purchase price of
$954.59 per share, less any
applicable withholding taxes. This represents a 25% discount from
the liquidation price per share. The offer expired at 5:00 p.m., Eastern time, on Tuesday, November 17, 2020.
The tender offer was oversubscribed. Pursuant to the terms of
the tender offer, the Company has accepted for purchase 62,854
Series B Preferred Shares at a purchase price of $954.59 per share on a pro rata basis, for an
aggregate purchase price of approximately $60 million. These shares represented
approximately 60% of the Company's outstanding Series B Preferred
Shares as of September 30, 2020. The
depositary has advised Centrus that the final proration factor was
approximately 67.815% for the tender offer.
Based on the final tabulation by Computershare Trust Company,
N.A., the depositary for the tender offer, approximately 92,735
shares of the Series B Preferred Shares were properly tendered and
not properly withdrawn. The depositary will promptly issue payment
for the shares properly tendered and accepted for purchase and will
return all other shares tendered.
D.F. King & Co., Inc. served as information agent for the
tender offer and Computershare Trust Company, N.A. is serving as
the depositary for the tender offer.
Additional Information Regarding the Tender Offer
This communication is for informational purposes only, and it is
neither an offer to purchase nor a solicitation of an offer to sell
Centrus Series B Preferred Shares or any other securities. The
offer was made solely by the tender offer statement on Schedule TO,
as amended or supplemented, including the offer to purchase, letter
of transmittal and related materials, filed with the United States
Securities and Exchange Commission in connection with the tender
offer.
About Centrus
Centrus is a trusted supplier of nuclear fuel and services for
the nuclear power industry. Centrus provides value to its utility
customers through the reliability and diversity of its supply
sources – helping them meet the growing need for clean, affordable,
carbon-free electricity. Since 1998, the Company has provided its
utility customers with more than 1,750 reactor years of fuel, which
is equivalent to 7 billion tons of coal.
With world-class technical capabilities, Centrus offers turnkey
engineering and advanced manufacturing solutions to its customers.
The Company is also advancing the next generation of centrifuge
technologies so that America can restore its domestic uranium
enrichment capability in the future. Find out more at
www.centrusenergy.com.
Forward-Looking Statements
This press release contains statements that constitute
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934. In this context,
forward-looking statements mean statements related to future
events, and often contain words such as "expects", "anticipates",
"intends", "plans", "believes", "will", "should", "could", "would"
or "may" and other words of similar meaning. These statements
include statements regarding potential future purchases of
additional shares. Forwardlooking statements by their nature
address matters that are, to different degrees, uncertain.
Particular risks and uncertainties that could cause results to
differ from those expressed in this press release include
conditions in financial markets, response by Series B Preferred
holders to a tender offer and other factors described in the
Company's filings with the Securities and Exchange Commission.
These factors may not constitute all factors that could cause
actual results to differ from those discussed in any
forward-looking statement. Accordingly, forward-looking statements
should be not be relied upon as a predictor of actual results.
Readers are urged to carefully review and consider the various
disclosures made in this press release and in our other filings
with the Securities and Exchange Commission that attempt to advise
interested parties of the risks and factors that may affect our
business. We do not undertake to update our forward-looking
statements to reflect events or circumstances that may arise after
the date of this release, except as required by law.
Centrus Investor Contacts:
Investors: Dan Leistikow (301)
564-3399 or LeistikowD@centrusenergy.com
Media: Lindsey Geisler (301)
564-3392 or GeislerLR@centrusenergy.com
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SOURCE Centrus Energy Corp.