/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.
For further information: For investor enquiries: Don Newman, Chief Financial Officer, 905.577.4432, [email protected] For media enquiries: Trevor Harris, Vice-President, Corporate Affairs, 905.577.4447, [email protected]