WEST CHESTER, Ohio,
Nov. 14, 2012 /PRNewswire/ -- AK
Steel Holding Corporation (NYSE: AKS) ("AK Holding") announced
today the pricing of its public offering of common stock. AK
Holding agreed to sell 22 million shares of common stock at a
public offering price of $4.00 per
share. In connection with this offering, AK Holding granted
the underwriters a 30-day option to purchase up to an additional
3.3 million shares of common stock.
AK Holding intends to use the net proceeds from the sale of the
common stock to repay borrowings under its asset-backed revolving
credit facility and for general corporate purposes. The
offering is expected to close on November
20, 2012, subject to customary closing conditions.
Concurrently with the pricing of its offering of common stock,
AK Steel Corporation ("AK Steel"), a subsidiary of AK Holding,
priced a public offering of $150
million of 5.00% exchangeable senior notes due 2019.
The joint book-running managers for the offering are J.P.
Morgan, Credit Suisse, Morgan Stanley, Wells Fargo Securities,
Deutsche Bank Securities and Goldman, Sachs & Co.
This announcement does not constitute an offer to sell or the
solicitation of an offer to buy the common stock in the offering,
nor shall there be any sale of such common stock in any state in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state.
A copy of the prospectus supplement and accompanying prospectus
for the offering can be obtained from J.P. Morgan at J.P. Morgan
Securities LLC, Attn: Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, New York
11717, 866-803-9204; Credit Suisse at Credit Suisse Securities
(USA) LLC, Prospectus Department,
One Madison Avenue, New York, NY
10010, 800-221-1037, or email:
newyork.prospectus@credit-suisse.com; Morgan Stanley at Morgan
Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, NY
10014, 866-718-1649, or email: prospectus@morganstanley.com; Wells
Fargo Securities at Wells Fargo Securities, LLC, Attn: Equity
Syndicate Department, 375 Park Avenue, New York, New York 10152, 800-326-5897, or
email: cmclientsupport@wellsfargo.com; Deutsche Bank Securities at
Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall
Street, New York, NY 10005,
800-503-4611, or email: prospectus.cpdg@db.com; or Goldman, Sachs
& Co. at Goldman, Sachs & Co., Prospectus Department, 200
West Street, New York, NY 10282,
866-471-2526, facsimile: 212-902-9316, or email:
prospectus-ny@ny.email.gs.com.
Forward-Looking Statements
Some of the statements in this release are intended to be, and
hereby are identified as "forward-looking statements" for purposes
of the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The company cautions readers that such
forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those
currently expected by management, including those risks and
uncertainties discussed in AK Holding's Annual Report on Form 10-K
for the year ended December 31, 2011
and Quarterly Report on Form 10-Q for the quarter ended
June 30, 2012, as updated in its
subsequent Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K filed with or furnished to the Securities and Exchange
Commission. Except as required by law, the company disclaims
any obligation to update any forward-looking statements to reflect
future developments or events.
AK Steel
AK Steel produces flat-rolled carbon, stainless and electrical
steels, primarily for automotive, infrastructure and manufacturing,
construction and electrical power generation and distribution
markets. The company employs about 6,200 men and women in
Middletown, Mansfield, Coshocton and Zanesville, Ohio; Butler, Pennsylvania; Ashland, Kentucky; Rockport, Indiana; and its corporate
headquarters in West Chester,
Ohio.
AK Tube LLC, a wholly-owned subsidiary of AK Steel, employs
about 300 men and women in plants in Walbridge, Ohio and Columbus, Indiana.
AK Tube produces carbon and stainless electric resistance welded
(ERW) tubular steel products for truck, automotive and other
markets.
AK Coal Resources, Inc., another wholly-owned subsidiary of AK
Steel, controls and is developing metallurgical coal reserves in
Somerset County,
Pennsylvania. AK Steel also owns 49.9% of Magnetation LLC, a
joint venture headquartered in Grand
Rapids, Minnesota, which produces iron ore concentrate from
previously-mined ore reserves.
SOURCE AK Steel Holding Corporation