/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR DISSEMINATION IN THE UNITED
STATES/
HAMILTON, ON, March 10, 2021 /CNW/ - Stelco Holdings Inc.
("Stelco" or the "Company") (TSX: STLC) announced today that the
previously announced bought deal secondary offering (the
"Offering") of 7,000,000 common shares of the Company (the "Common
Shares") by Bedrock Industries Coöperatief U.A. (the "Selling
Shareholder") at a price of $26.25
per Common Share for aggregate gross proceeds of $183,750,000 to the Selling Shareholder has
closed.
The Offering was completed by way of a prospectus supplement
dated March 5, 2021 (the "Prospectus
Supplement") to the final base shelf prospectus of the Company
dated February 11, 2021 (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. All net proceeds of
the Offering, after deducting the underwriting commission, were
paid to the Selling Shareholder.
Prior to the Offering, the Selling Shareholder held 41,172,315
Common Shares, which represented approximately 46.4% of the
outstanding Common Shares. Following the Offering, the Selling
Shareholder holds 34,172,315 Common Shares, representing
approximately 38.5% 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 Stelco
Stelco is a low cost, integrated and
independent steelmaker with one of the newest and most
technologically advanced integrated steelmaking facilities in
North America. In addition to
being North America's only
integrated producer of pig iron, Stelco 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 steel service centres. At
Stelco, we understand the importance of our business reflecting the
communities we serve and are committed to making diversity and
inclusion a core part of our workplace culture, in part, through
active participation in the BlackNorth Initiative. The head office
of the Company is located at 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 Strawinskylaan 1033, Toren C-10, 1077 XX
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 relating to the transaction
contemplated hereby will be filed by the Selling
Shareholder in accordance with applicable securities laws and
will be available on SEDAR under Stelco's profile at
www.sedar.com or may be obtained directly
from Tijn van Hooven upon request at +31 20
7470115.
SOURCE Stelco