U.S. Steel (X) to Offer 40M Common Shares

United States Steel Corporation (NYSE: X) announced today that it has commenced an underwritten public offering of 40,000,000 shares of common stock. U. S. Steel intends to grant the underwriter a 30-day option to purchase up to 6,000,000 additional shares of common stock from the company.

U. S. Steel intends to use the net proceeds from the offering to redeem 35% of its outstanding 2025 Senior Secured Notes and for general corporate purposes, which may include further repayment of its outstanding indebtedness.

Morgan Stanley & Co. LLC is acting as the underwriter for the offering. The underwriter may offer the shares of common stock from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices, or at negotiated prices.

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