Company: LEU
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-049844
Chunk: 67

Company: CENTRUS ENERGY CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 67
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 Convertible Notes due 2030 and in August 2025, the Company issued $805.0 million of 0% Convertible Notes due 2032. The Company evaluated its convertible debt to determine if the agreements or embedded components of the agreements qualify as derivatives to be accounted for separately and concluded that none of the embedded features of the convertible debt, inclusive of the conversion option, meet the criteria to require separate accounting. 

22

0% Convertible NotesOn August 18, 2025, the Company issued, in a Rule 144A offering, the 0% Convertible Notes with an aggregate principal amount of $805.0 million, due August 15, 2032, unless earlier repurchased, redeemed or converted. There are no required principal payments prior to the maturity of the 0% Convertible Notes. The 0% Convertible Notes will not bear regular interest and the principal amount will not accrete. The Company incurred approximately $22.5 million in issuance costs related to the issuance of the 0% Convertible Notes. The carrying amount of the 0% Convertible Notes as of September 30, 2025 was $782.9 million and included the remaining principal outstanding of $805.0 million, net of total unamortized debt discounts and deferred debt issuance costs of $22.1 million.Before May 15, 2032, noteholders may convert the 0% Convertible Notes in any of the following circumstances:•during the five consecutive business days immediately after any ten consecutive trading day period (the “Measurement Period”), in which the trading price per $1,000 principal amount of the 0% Convertible Notes for each trading day of the Measurement Period was less than 98% of the product of the last reported sale price per share of the Company’s Class A Common Stock on such trading day and the conversion rate on each such trading day; or•during any fiscal quarter commencing after the fiscal quarter ending on December 31, 2025, if the last reported sale price per share of the Company’s Class A Common Stock is greater than or equal to 130% of the conversion price for each of at least twenty trading days (whether or not consecutive) during the thirty consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter; or•upon the occurrence of certain corporate events or distributions on the Company’s Class A Common Stock; or•if the Company calls such notes for redemption at