United States Steel Corporation Announces Pricing of Upsized Common Stock Offering
03 Fevereiro 2021 - 12:27AM
Business Wire
United States Steel Corporation (NYSE: X) (the “company” or “U.
S. Steel”) announced today the pricing of its upsized underwritten
public offering of 42,000,000 shares of common stock, for gross
proceeds of approximately $699 million. The size of the offering
was upsized from 40,000,000 shares to 42,000,000 shares. The
company has granted the underwriter a 30-day option to purchase up
to 6,300,000 additional shares of common stock from the company.
The offering is expected to close on or about February 5, 2021,
subject to customary closing conditions.
U. S. Steel intends to use the net proceeds from the offering to
redeem 35% of its outstanding 2025 Senior Secured Notes and for
general corporate purposes, which may include further repayment of
its outstanding indebtedness.
Morgan Stanley & Co. LLC is acting as the underwriter for
the offering. The underwriter may offer the shares of common stock
from time to time for sale in one or more transactions on the New
York Stock Exchange, in the over-the-counter market, through
negotiated transactions or otherwise at market prices prevailing at
the time of sale, at prices related to prevailing market prices, or
at negotiated prices.
The common stock is being offered and sold pursuant to an
effective automatic shelf registration statement on Form S-3
previously filed with the Securities and Exchange Commission
(“SEC”). Before you invest, you should read the prospectus
supplement related to this offering and accompanying prospectus in
that registration statement and other documents filed with the SEC
for more information about the company and this offering. You may
obtain these documents free of charge by visiting the SEC’s website
at www.sec.gov. Copies of the prospectus supplement and
accompanying prospectus for the offering may be obtained from:
Morgan Stanley & Co. LLC at 180 Varick Street, 2nd Floor, New
York, New York 10014, Attn: Prospectus Department.
This press release is neither an offer to sell nor a
solicitation of an offer to buy any securities, including U. S.
Steel common stock, nor shall it constitute an offer, solicitation
or sale of any securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Words such as,
but not limited to, “believes,” “expects,” “anticipates,”
“estimates,” “intends,” “plans,” “could,” “may,” “will,” “should,”
and similar expressions are intended to identify forward-looking
statements. All forward-looking statements, including with respect
to the offering described herein, rely on a number of assumptions,
estimates and data concerning future results and events and are
subject to a number of uncertainties and other factors, many of
which are outside U. S. Steel’s control that could cause actual
results to differ materially from those reflected in such
statements. Accordingly, U. S. Steel cautions that the
forward-looking statements contained herein are qualified by these
and other important factors and uncertainties that could cause
results to differ materially from those reflected by such
statements. For more information on additional potential risk
factors, please review U. S. Steel’s filings with the SEC,
including, but not limited to, U. S. Steel’s Annual Report on Form
10-K, Quarterly Reports on Form 10-Q and its Current Reports on
Form 8-K.
Founded in 1901, the United States Steel Corporation is a
Fortune 250 company and leading integrated steel producer. With
extensive iron ore production and an annual raw steelmaking
capability of 26.2 million net tons, U. S. Steel produces high
value-added steel products for the automotive, infrastructure,
appliance, container, and energy industries. The company’s Best of
BothSM integrated and mini-mill technology strategy is advancing a
more secure, sustainable future for U. S. Steel and its
stakeholders. With renewed emphasis on innovation and customer
focus, the company produces cutting-edge products such as U. S.
Steel’s proprietary XG3™ advanced high-strength steel. U. S. Steel
is headquartered in Pittsburgh, Pennsylvania, with world-class
operations across the United States and in Central Europe. For more
information, please visit www.ussteel.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210202006236/en/
John O. Ambler Vice President Corporate Communications T – (412)
477-1719 E – joambler@uss.com
Kevin Lewis Vice President Investor Relations T – (412) 433-6935
E – klewis@uss.com
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