Corporate Development: USEC, Inc. To Emerge From Bankruptcy Protection On September 30

Corporate Development. On September 19, 2014, USEC, Inc. (NYSE: USU) announced that the Boards of Directors set September 30, 2014, as the effective date for the company's emergence from Chapter 11 bankruptcy protection. As a global energy player supplying low-enriched uranium fuel for nuclear power plants worldwide, USEC faces major industry headwinds. The Bethesda, Maryland, company filed for bankruptcy reorganization in March 2014.

usu_centrifuge.png

Source: USEC

Early this month on the fifth, USEC, Inc. had its last major court action to finalize the restructuring plans going forward. Based on the corporate press release today, existing securities – common and preferred stocks, and notes – will be canceled, and new stocks will be issued. Shareholders on record prior to September 29, do not need to take any action.

usu_american_centrifigue.png

Source: USEC, Inc.

More Insight. USEC, Inc. (NYSE: USU) will begin to trade on the New York Stock Exchange under the ticker symbol LEU on the aforementioned date – September 30. Back in early July, USEC stock had one of its best trading sessions: The stock meteorically ascended to the moon and gained more than 200 percent in that single trading day. Sources attributed this drastic increase due to the Queensland Government lifting their ban on Uranium mining.

Read the rest of this article at Retail Investor 360

Disclosure: We are neither long nor short USEC. Stocks under $100 million market cap are high-risk investments. Nevertheless, extensive due diligence will reduce such risks. 

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Michele Grant 4 years ago Member's comment
At a 52 week low, it looks inviting... but I'm not yet convinced they'll be successful.
Retail Investor 360 4 years ago Author's comment
Though Usec can turn around, it will be highly difficult; the market for low enriched Uranium is facing competitive pressure from the growing solar industry as well.