Cleveland-Cliffs (CLF) Prices 60M Share Common Offering for Approx. Gross Proceeds of $326M
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Cleveland-Cliffs Prices Public Offering of Common Shares, including 40,000,000 Common Shares by ArcelorMittal
February 8, 2021 10:00 PM ESTCLEVELAND--(BUSINESS WIRE)-- Cleveland-Cliffs Inc. (NYSE: CLF) today announced the pricing of its underwritten public offering (the Offering) of 60,000,000 common shares, par value $0.125 per share (the Common Shares), which consists of 40,000,000 currently outstanding Common Shares offered by ArcelorMittal North America Holdings LLC, an indirect, wholly-owned subsidiary of ArcelorMittal S.A. (the Selling Shareholder) and 20,000,000 Common Shares offered by the Company. The Company has also granted the underwriter a 30-day option to purchase an additional 9,000,000 Common Shares.
The Company will not receive any proceeds from the sale of the Selling Shareholders currently outstanding... More
