Company: LEU
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001065059-25-000058
Chunk: 108

Company: CENTRUS ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 108
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 30, 2025 and 2024, respectively.

Financing Activities

For the six months ended June 30, 2025 and 2024, cash of $139.9 million and $19.0 million, respectively, was provided from the net proceeds related to the issuance of 1,415,924 and 451,830 shares, respectively, of Class A Common Stock under ATM offerings. 

Pursuant to the Redemption Notice, on March 26, 2025, the Company redeemed all 8.25% Notes at a redemption price equal to 100% of the principal amount of $74.3 million, together with any accrued and unpaid interest. For the six months ended June 30, 2025 and 2024, payments of $3.5 million and $3.1 million, respectively, of interest classified as debt are classified as a financing activity. Refer to Note 6, Debt, of the Consolidated Financial Statements regarding the accounting for the 8.25% Notes. 

Working Capital

The following table summarizes the Company’s working capital (in millions): 

June 30,2025December 31,2024Cash and cash equivalents$833.0 $671.4 Accounts receivable31.3 80.0 Inventories, net193.1 145.4 Current debt— (6.1)Deferred revenue and advances from customers, net of deferred costs(107.1)(152.5)Other current assets and liabilities, net(181.9)(69.8)Working capital$768.4 $668.4 

We are managing our working capital to seek to improve the long-term value of our LEU and Technical Solutions businesses because we believe these uses of working capital are in the best interest of all stakeholders. We expect that any other uses of working capital will be undertaken in light of these strategic priorities and will be based on the Company’s determination as to the relative strength of its operating performance and prospects, financial position, and expected liquidity requirements. In addition, we expect that any such other uses of working capital will be subject to compliance with contractual restrictions to which the Company and its subsidiaries are subject. We continually evaluate alternatives to manage our capital structure and may opportunistically repurchase, exchange, or redeem Company securities from time to time. 

57

2.25% Convertible Notes

On November 7, 2024, the Company issued, in a Rule 144