Centrus Energy Corp. announced the preliminary results in connection with its previously announced private exchange offer to exchange any and all of the company’s 8.0% PIK toggle notes due 2019/2024 for up to $85 million 8.25% senior secured notes due 2027, $120 million 7.5% cumulative redeemable preferred stock, and $30 million in cash. The new notes will be guaranteed on a subordinated and limited basis by the company’s subsidiary, United States Enrichment Corporation. The terms and conditions of the new notes will be substantially similar to those of the Outstanding notes after giving effect to the proposed amendments pursuant to the Consent Solicitation, except in terms of interest and maturity. In addition, the indenture governing the New Notes will not include termination provisions with respect to the Guarantee that exist in the indenture governing the Outstanding Notes (the “Original Indenture”) and will include restrictions on certain transfers of cash to acquire equity interests. The Exchange Offer is conditioned upon the receipt of valid tenders of Outstanding Notes, not withdrawn, of at least $211.12 million aggregate principal amount of Outstanding Notes on or before the Expiration Date and certain other conditions, including that the issuance of the Preferred Stock will not result in an ownership change for purposes of Section 382 of the Internal Revenue Code of 1986, as amended.