Dilution profile // every instrument, one screen, from SEC filings

CENTRUS ENERGY CORP (LEU)

CIK 1065059 · all EDGAR filings →

Overall dilution risk
HIGHworst of 4 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
HIGHS-3ASR on file 2025-11-06
= is there a registration (S-1/S-3 family) on file without a later withdrawal
no structured fee data on the live registrations, so this is a yes/no, not a size
Overhead supply
LOWwarrants = 2% of O/S
= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)
warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this
Historical dilution
MEDIUM+45% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
a reverse-split-sized cliff is in this window; read the chart
Cash need
LOWoperating cash flow positive
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2015-07-312022-03-01

Latest: 13.7M shares as of Mar 1, 2022 (10-K). Share count fell from 124.0M to 4.9M between Apr 30, 2013 and Jul 31, 2013, a pattern consistent with a reverse split (roughly 1-for-25); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Self-funding

profitable · generates cash

Full breakdown: cash runway tool · source filing →

Warrants

Warrants outstanding: 250,000 underlying shares, as reported Sep 30, 2021 (10-Q).

Reported exercise price: $21.62 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 13.9M = 13.7M O/S + 250,000 warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.

Convertible notes

NotePrincipalCarryingConv. priceRateIf converted
0.0 Percent Convertible Note$805.0Mnot tagged
2.25 Percent Convertible Note$402.5Mnot tagged
2.25 Convertible Notes$402.5Mnot tagged

Notes exactly as the company dimensioned them in its 10-Q filed Aug 6, 2026. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding13.7MMar 1, 2022
+ Warrants (aggregate, as tagged) (if exercised)250,000Sep 30, 2021
Fully diluted estimate13.9M+1.8% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

S-3ASRNov 6, 2025fee exhibit found but no total offering amount (fees deferred, typical for automatic shelves)filing →

Last 12 months: 2 executed · 1 registered.

REGISTEREDNov 6, 2025Automatic shelf registration — effective immediately (large filers)S-3ASR
EXECUTEDNov 6, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDAug 18, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDMay 9, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDNov 7, 2024Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDFeb 9, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEJul 10, 2023SEC declared a registration effective — selling can beginEFFECT
REGISTEREDJun 28, 2023S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDDec 30, 2022Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDDec 6, 2022Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDFeb 5, 2021Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDDec 31, 2020Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

Keep going: float checker · offering calendar · short-squeeze screener · full LEU workspace