Centrus Energy Corp. (NYSE American: LEU) entered into an at-the-market equity offering sales agreement that allows the company to sell up to $1 billion of Class A common stock shares, according to a company statement.

The nuclear fuel supplier filed a Registration Statement on Form S-3ASR with the Securities and Exchange Commission on November 6, which became automatically effective upon filing. Sales will be made at or related to prevailing market prices through multiple sales agents.

Barclays, Citi, UBS Investment Bank and Evercore ISI serve as lead sales agents for the program. Additional sales agents include B. Riley Securities, Guggenheim Securities, MUFG, William Blair, Lake Street and Northland Capital Markets.

Centrus retains control over sale parameters including the number of shares to be issued, timing of sales, daily volume limitations and minimum pricing thresholds. The company stated it is not obligated to sell any shares under the program.

If shares are sold, proceeds would be used for general working capital and corporate purposes, which may include technology development or deployment, debt repayment or repurchase, capital expenditures, potential acquisitions and other business opportunities.

Sales agents may sell shares using methods deemed to be "at the market offerings" as defined under Securities Act Rule 415, including sales through NYSE American LLC or other trading markets for the Class A Common Stock.

The sales agreement will terminate when all shares subject to the agreement are sold or upon termination according to the agreement's terms and conditions.