Stelco completes secondary equity offering

On September 18, 2018, Stelco Holdings Inc. ("Stelco") completed a secondary offering of 8,000,000 common shares sold by LG Bedrock Holdings LP and Foundation Industries Group LLC (together with LG Bedrock, the "Selling Shareholders"). The offering was priced at C$22.65 per common share for aggregate gross proceeds of C$181,200,000 to the Selling Shareholders.

The offering was conducted by a syndicate of underwriters led by Goldman Sachs Canada Inc. and BMO Capital Markets, as lead joint bookrunners, and included Credit Suisse Securities (Canada), Inc., J.P. Morgan Securities Canada Inc., and Morgan Stanley Canada Limited, as joint bookrunners, and National Bank Financial Inc. and Oppenheimer & Co. Inc., as co-managers.

Pursuant to an over-allotment option granted to the underwriters by the Selling Shareholders, on October 10, 2018 the underwriters completed the purchase of an additional 730,000 common shares for aggregate additional gross proceeds to the Selling Shareholders of C$16,534,500.

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

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