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AK Steel to raise US$228.8M in stock offering

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020


AK Steel to raise US$228.8M in stock offering

AK SteelHolding Corp. said April 28 that it is selling 52,000,000 of itscommon shares at US$4.40 per share, to raise US$228.8 million.

Net proceeds will be used to repay outstanding borrowings underAK Steel's US$1.5 billion asset-based revolving credit facility.

The offering is expected to close on May 4, subject tocustomary closing conditions.

Underwriters have a 30-day option to purchase up to anadditional 7,800,000 shares.

Credit Suisse, Citigroup, Goldman, Sachs & Co., BofAMerrill Lynch, Deutsche Bank Securities, J.P. Morgan and Wells Fargo Securitiesare acting as joint book-running managers.