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

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

United States Steel Corporation Announces Common Stock Offering

February 2, 2021 4:24 PM EST

PITTSBURGH--(BUSINESS WIRE)-- United States Steel Corporation (NYSE: X) (the company or U. S. Steel) 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.

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