WEST CHESTER, Ohio,
Nov. 13, 2012 /PRNewswire/ -- AK
Steel Holding Corporation (NYSE: AKS) ("AK Holding") announced that
it has commenced a registered offering of 25,000,000 shares of its
common stock. In connection with this offering, AK Holding
has granted the underwriters a 30-day option to purchase up to an
additional 3,750,000 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
being made pursuant to an effective shelf registration statement on
file with the Securities and Exchange Commission (the "SEC").
Concurrently with this offering of shares of its common stock,
its subsidiary, AK Steel Corporation ("AK Steel"), has commenced a
registered offering of $125 million
aggregate principal amount of 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. AK
Holding and AK Steel have filed a registration statement (including
a prospectus) with the SEC relating to the offering. The
offering may be made only by means of a prospectus supplement and
the accompanying prospectus. Before you invest, you should
read the prospectus supplement and accompanying prospectus and
other documents AK Holding and AK Steel have filed with the SEC for
more complete information about AK Holding, AK Steel and the
offering. You may review electronic copies of these documents
for free by visiting EDGAR on the SEC Web site at www.sec.gov.
Alternatively, any underwriter or any dealer participating in
the offering will arrange to send you the prospectus supplement and
accompanying prospectus if you request them by contacting: 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.
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.
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