CHICAGO, July 19, 2016 /PRNewswire/ -- Ryerson
Holding Corporation (NYSE: RYI) (the "Company") announced today
the pricing of its previously announced underwritten public
offering of 5,000,000 shares of its common stock at a public
offering price of $15.25 per
share, before underwriting discounts and commissions. In addition,
the Company has granted the underwriters a 30-day option to
purchase up to 750,000 additional shares of common stock at the
public offering price less underwriting discounts and
commissions.
The offering is expected to close on July
25, 2016, subject to the satisfaction or waiver of customary
closing conditions. The Company intends to use the net proceeds of
the offering to repurchase, redeem, defease or otherwise repay
portions of its outstanding indebtedness, including but not limited
to, its outstanding 11.25% Senior Notes due 2018, from time to
time.
J.P. Morgan, Deutsche Bank Securities, BMO Capital Markets,
Goldman, Sachs & Co. and Jefferies are acting as joint
bookrunning managers for the offering and Citigroup, Credit Suisse,
KeyBanc Capital Markets, Macquarie Capital and UBS Investment Bank
are acting as co-managers for the offering.
This offering is being made only by means of a prospectus
supplement and related prospectus. Copies of the prospectus
supplement and related prospectus relating to this offering may be
obtained from J.P. Morgan Securities LLC, Attention: Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866-803-9204;
Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall
Street, New York, NY 10005,
e-mail: prospectus.cpdg@db.com, telephone: 1-800-503-4611; or BMO
Capital Markets Corp., Attn: Equity Syndicate Department, 3 Time
Square New York, NY 10036, e-mail:
bmoprospectus@bmo.com, telephone: 1-800-414-3627.
The shares are being offered pursuant to an effective shelf
registration statement. This press release is for informational
purposes only and shall not constitute an offer to sell or a
solicitation of an offer to buy, nor will there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Ryerson
Ryerson is a processor and distributor of metals with operations
in the United States, Canada, Mexico and China. The company serves a variety of
industries, including customers making products or equipment for
the commercial ground transportation, metal fabrication and machine
shops, industrial machinery and equipment, consumer durables, HVAC,
construction, food processing and agriculture, as well as oil and
gas. Founded in 1842, Ryerson is headquartered in the United
States and has approximately 3,400 employees in approximately
100 locations.
Forward-Looking Statements
Certain statements made in this press release and other written
or oral statements made by or on behalf of the company constitute
"forward-looking statements" within the meaning of the federal
securities laws, including statements regarding our future
performance, as well as management's expectations, beliefs,
intentions, plans, estimates or projections relating to the future.
Such statements can be identified by the use of forward-looking
terminology such as "believes," "expects," "may," "estimates,"
"will," "should," "plans" or "anticipates" or the negative thereof
or other variations thereon or comparable terminology, or by
discussions of strategy. The company cautions that any such
forward-looking statements are not guarantees of future performance
and may involve significant risks and uncertainties, and that
actual results may vary materially from those in the
forward-looking statements as a result of various factors. Among
the factors that significantly impact the metals distribution
industry and our business are: the cyclicality of our business; the
highly competitive and fragmented market in which we operate;
fluctuating metal prices; our substantial indebtedness and the
covenants in instruments governing such indebtedness; the
integration of acquired operations; regulatory and other
operational risks associated with our operations located inside and
outside of the United States; work
stoppages; obligations regarding certain employee retirement
benefit plans; the ownership of a majority of our equity securities
by a single investor group; currency fluctuations; and
consolidation in the metals producer industry. Forward-looking
statements should, therefore, be considered in light of various
factors, including those set forth above and those set forth under
"Risk Factors" in our annual report on Form 10-K for the year ended
December 31, 2015 and in our other
filings with the Securities and Exchange Commission. Moreover, we
caution against placing undue reliance on these statements, which
speak only as of the date they were made. The company does not
undertake any obligation to publicly update or revise any
forward-looking statements to reflect future events or
circumstances, new information or otherwise.
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SOURCE Ryerson Holding Corporation