AK Steel Announces Offering of Common Stock
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AK Steel (AKS) Prices 52M Share Common Stock Offering at $4.40/Share
April 29, 2016 6:51 AM EDTAK Steel Holding Corporation (NYSE: AKS) announced the pricing of its public offering of common stock. AK Holding agreed to sell 52,000,000 shares of its common stock at a public offering price of $4.40 per share. In connection with this offering, AK Holding has granted the underwriters a 30-day option to purchase up to an additional 7,800,000 shares of common stock.
AK Holding intends to use the net proceeds from the sale of the common stock to repay outstanding borrowings under AK Steel's $1.5 billion asset-based revolving credit facility. The offering is expected to close on May 4, 2016, subject... More
