Deal expected to fund general corporate and working capital purposes
By Devika Patel
Knoxville, Tenn., July 20 – Ryerson Holding Corp. priced a $76.25 million public offering of stock with an $11.44 million greenshoe, according to a prospectus supplement filed Wednesday with the Securities and Exchange Commission.
The company priced 5 million common shares at $15.25 per share. The price per share reflects a 6.21% discount to the July 19 closing share price of $16.26.
J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., BMO Capital Markets, Goldman Sachs & Co., Jefferies, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, KeyBanc Capital Markets, Macquarie Capital and UBS Investment Bank are the bookrunners.
Settlement is expected July 25.
Proceeds will be used for general corporate and working capital purposes.
Chicago-based Ryerson is a processor and distributor of metals.
| Issuer: | Ryerson Holding Corp.
|
| Issue: | Common stock
|
| Amount: | $76.25 million
|
| Greenshoe: | $11,437,500, or 750,000 shares
|
| Shares: | 5 million
|
| Price: | $15.25
|
| Warrants: | No
|
| Bookrunners: | J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., BMO Capital Markets, Goldman Sachs & Co., Jefferies, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, KeyBanc Capital Markets, Macquarie Capital, UBS Investment Bank
|
| Pricing date: | July 20
|
| Settlement date: | July 25
|
| Stock symbol: | NYSE: RYI
|
| Stock price: | $16.26 at close July 19
|
| Market capitalization: | $379.89 million
|
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