/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/
HAMILTON, ON, April 4, 2018 /CNW/ - Stelco Holdings Inc.
("Stelco", the "Company" or "we"), (TSX: STLC) announced today that
it has closed the previously announced bought deal secondary
offering (the "Offering") of 10,000,000 common shares of the
Company ("Common Shares") by Bedrock Industries B.V. (the "Selling
Shareholder") at a price of C$21.75
per Common Share for aggregate gross proceeds of C$217,500,000 to the Selling Shareholder.
The Offering was completed by way of a prospectus supplement
dated March 29, 2018 (the "Prospectus
Supplement") to the final base shelf prospectus of the Company
dated February 8, 2018 (the "Base
Shelf Prospectus"). The Base Shelf Prospectus and the Prospectus
Supplement have been filed with Canadian securities regulators and
are available under the Company's profile at www.sedar.com.
The Offering was led by BMO Capital Markets and Goldman Sachs
Canada Inc. The net proceeds of the Offering, after deducting the
underwriting commission, were paid to the Selling Shareholder.
Prior to the Offering, the Selling Shareholder held 75,283,887
Common Shares, which represented approximately 84.8% of the
outstanding Common Shares. Following the Offering, the Selling
Shareholder holds 65,283,887 Common Shares, representing
approximately 73.5% of the outstanding Common Shares.
The Common Shares have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent
registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About the Company
The Company is a low cost, integrated and independent steelmaker
with one of the newest and most technologically advanced integrated
steelmaking facilities in North
America. The Company produces flat-rolled value-added
steels, including premium-quality coated, cold-rolled and
hot-rolled steel products. With first-rate gauge, crown, and shape
control, as well as reliable uniformity of mechanical properties,
our steel products are supplied to customers in the construction,
automotive and energy industries across Canada and the
United States as well as to a variety of steel services
centres, which are regional distributers of steel products. The
address of the Company is 386 Wilcox Street, Hamilton, Ontario, L8L 8K5.
About the Selling Shareholder
The Selling Shareholder is organized under the laws of
the Netherlands and the address of
its registered office is Prins Bernhardplein 200, 1097 JB
Amsterdam, the Netherlands. The
Common Shares were disposed of by the Selling Shareholder as a
result of investment considerations including price, market
conditions, availability of funds, evaluation of alternative
investments and other factors. An early warning report will be
filed by the Selling Shareholder in accordance with applicable
securities laws and will be available on SEDAR at
www.sedar.com or may be obtained directly from Jeffrey Bunder
upon request at 212.651.1130.
SOURCE Stelco