Centrus says 97.4% of outstanding series B preferreds tendered

Chicago, Nov. 18 – Centrus Energy Corp. announced that 97.4% of its outstanding series B senior preferred stock has been tendered in its offer ended at 5 p.m. ET on Thursday, according to a press release.

Noteholders tendered 36,867 shares.

As previously reported, the purchase price will be $1,145.20 per share, including dividends.

The aggregate liquidation preference per share was $1,347.29 as of Sept. 30, and there were 37,847 preferred shares outstanding at that time, with a liquidation preference of about $51 million or about $1,347.29 per share, consisting of about $37.8 million original liquidation preference and about $13.2 million of accrued dividends.

Centrus will pay $42.2 million to repurchase the tendered shares with available cash.

Concurrently with the tender, the company was soliciting consents to amend the shares’ designation certificate to remove a redemption restriction, among other things. The amendment required the consent of at least 90% of holders.

The company received approval, based on the preliminary results.

If the amendment is indeed approved, the company plans to redeem all of the shares remaining after the tender offer at a reduced redemption price.

D.F. King & Co., Inc. (800 967-5074, 212 269-5550; centrus@dfking.com) is the information agent, and Computershare Trust Co., NA is the depositary.

Centrus is a Bethesda, Md.-based supplier of nuclear fuel and advanced technology services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.