Centrus Energy Corp. (NYSEMKT:LEU) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement

On November 29, 2018, American Centrifuge Operating, LLC, a Delaware limited liability company (the “Company”) and a wholly owned subsidiary of Centrus Energy Corp. (“Centrus”), entered into a Services Agreement to Provide Technical and Resource Support, effective November 28, 2018, to X Energy, LLC, a Maryland limited liability company (“X-energy”). Under the terms of the services agreement, the Company will provide (i) technical and resource support to the design and license application development of X-energy’s nuclear fuel production facility and (ii) non-cash in-kind contributions to X-energy subject to a cooperative agreement between X-energy and the United States government. The technical and resource support provided by the Company to X-energy will be performed to separate task orders issued under and to the services agreement.

The initial task orders run through September 30, 2019 with deliverables to be completed through November 30, 2019. The awarding of any additional task orders to the Company will be dependent upon the receipt of additional funding.

Depending upon the pricing outlined in the task orders, payment for work performed by the Company to the services agreement will either be fixed price based or time-and-materials based. The initial task orders provide for time-and-materials based pricing with payments to be made to the Company totaling approximately $4.17 million. The value of the Company’s non-cash in-kind contributions through completion of the initial task order deliverables in November 2019 is expected to be approximately $2.37 million.

The foregoing description of the services agreement does not purport to be complete and is qualified in its entirety by the text of the agreement, a copy of which is expected to be filed as an exhibit to Centrus’ annual report on Form 10-K for the year ending December 31, 2018.

The Company is a party to a few other agreements or arrangements with X-energy, as described in Centrus’ quarterly reports on Form 10-Q.

Centrus, or its subsidiaries, are also a party to a number of other agreements or arrangements with the United States government, as described in Centrus’ annual report on Form 10-K and quarterly reports on Form 10-Q.

Item 7.01 Regulation FD Disclosure.

On November 29, 2018, Centrus issued a press release announcing the event described in Item 1.01 of this report. A copy of this press release is included as Exhibit 99.1 to this report.

The information furnished to this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of Centrus under the Securities Act of 1933 or the Exchange Act. A copy of the press release issued by Centrus in relation to the services agreement is furnished herewith to Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

(d)Exhibits.

CENTRUS ENERGY CORP Exhibit
EX-99.1 2 ex99-1_20181130.htm EXHIBIT 99.1 Exhibit EXHIBIT 99.1 FOR IMMEDIATE RELEASE: November 29,…
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