Stelco completes secondary equity offering

On June 2, 2021, Stelco Holdings Inc. ("Stelco") announced the closing of its bought deal secondary offering of 6,670,000 common shares by LG Bedrock Holdings LP (the "Selling Shareholder") at a price of C$33.00 per common share for aggregate gross proceeds of C$220 million (which included the sale of 870,000 common shares pursuant to the exercise in full by the underwriter of its over-allotment option).

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.

Further information can be found on Canada Newswire’s website.

Stelco is a low cost, integrated and independent steelmaker with one of the newest and most technologically advanced integrated steelmaking facilities in North America.