Centrus plummets after the unveiling of its convertible offering and the FERC’s rejection of the agreement between Amazon and Talen – 11/04/2024 at 8:07 p.m.

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November 4 – ** Shares of Centrus Energy LEU.N fall 30% to $79.59 on Monday, after the company announced convertible debt plans and U.S. regulators rejected the deal to data center between Amazon.com AMZN.O and Talen Energy TLN.O.

**UFE on track for biggest one-day percentage decline in two years** In early May, the Bethesda, Md.-based nuclear fuel supplier announced it was offering private convertible bonds worth $350 million over 6 years to invest in technology development or deployment, debt repayment, capital expenditures and potential acquisitions ** Late Friday, the Federal Energy Regulatory Commission (FERC ) rejected an amended interconnection agreement between AMZN and power company TLN to expand capacity from a nuclear power plant in Pennsylvania to one of the internet retail giant’s data centers

**With the move on the session, LEU lost around $500 million in market capitalization to around $1.3 billion, according to LSEG data** On October 18, LEU jumped ~22% to close at $98.59, a day after the company was awarded the U.S. DOE’s uranium production contract for new reactors** The stock ended September at $54.85. It was boosted by companies like AMZN and Alphabet’s Google

GOOGL.O which struck deals last month to develop nuclear power technology to meet growing data center demand