CHICAGO, July 18, 2016 /PRNewswire/ -- Ryerson
Holding Corporation (NYSE: RYI) (the "Company") announced today
that it has commenced an underwritten public offering of 5,000,000
shares of its common stock. 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. 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.
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.
The last reported sale price of its common stock on July 15, 2016 was $18.93 per share. The offering is subject to
market and other conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the terms
of 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