U.S. Steel (X) Plans 17M Share Common Stock Offering

August 8, 2016 4:05 PM EDT

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Today United States Steel Corporation (NYSE: X) announced that it has commenced an underwritten public offering of 17,000,000 shares of common stock. The Company intends to grant the underwriters a 30-day option to purchase up to 2,550,000 additional shares of common stock from the Company. The Company intends to use the net proceeds from the offering for financial flexibility, capital expenditures and other general corporate purposes.

J.P. Morgan, Goldman, Sachs & Co., Barclays, Wells Fargo Securities, Credit Suisse and Morgan Stanley are acting as joint book-running managers for the proposed offering. Copies of the preliminary prospectus supplement and accompanying prospectus for the offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204; and from Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526, facsimile: (212) 902-9316, e-mail: prospectus-ny@ny.email.gs.com.

The common stock will be issued and sold pursuant to an effective automatic shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission ("SEC"). Before you invest, you should read the prospectus in that registration statement and other documents filed with the SEC for more information about the Company and this offering. You may obtain these documents free of charge by visiting the SEC's website at www.sec.gov.



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