Ryerson Holding Corporation Announces Closing of Secondary Common Share Offering by Its Principal Shareholder and Concurrent Share Repurchase


CHICAGO, May 13, 2022 /PRNewswire/ — Ryerson Holding Corporation (NYSE: RYI) (the “Company” or “Ryerson”) today announced the closing of an underwritten secondary public offering of 3,500,000 shares of its common stock by an affiliate of Platinum Equity LLC (the “Selling Shareholder”). Ryerson has not tendered any shares of its common stock under the Offer and has not received any proceeds from the sale of the shares offered by the Selling Shareholder.

Concurrent with the completion of the Offer, Ryerson purchased 1,613,022 Common Shares directly from the Selling Shareholders. The Company financed the share repurchase with available cash.

“The secondary offering and concurrent share buyback mark an important step in Ryerson’s ongoing transformation. Through this secondary offering and the company’s share buyback, we have increased our public company stock float, increased non-selling shareholder ownership and completed our authorized share buyback program fourteen months ahead of schedule. , in addition to reducing long-term debt by more than $275 million in less than two years and increasing our quarterly dividend by more than 56% over the past year to $0.125 per share. This is an enormous amount of important and valuable work that we can all be proud of. We would like to thank Platinum Equity for their continued investment and support throughout our nearly 15-year relationship and we are excited to continue this relationship as we continue to build Ryerson’s business value in the years to come. said Eddie Lehner, President and CEO of Ryerson.

“Through this transaction, Ryerson is able to create long-term shareholder value by increasing our free float ratio by approximately 11% to represent approximately 57% of our total shares outstanding. We estimate that this repurchase of our shares will be approximately Our strong cash flow generation allowed us to repurchase 1.6 million shares for $47.7 million at an attractive price, while completing our repurchase authorization $50 million share price of August 2021 more than fourteen months ahead of schedule. in eight months, Ryerson returned more than $60 million to shareholders in the form of share buybacks and dividends. said Jim Claussen, Chief Financial Officer of Ryerson.

The secondary offering has been made pursuant to an effective shelf registration statement on Form S-3 (including a prospectus) that has been filed by Ryerson with the Securities and Exchange Commission (“SEC”). You can obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Copies of the prospectus supplement and accompanying prospectus relating to the Offering may also be obtained by contacting: JP Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone: 1-866- 803-9204, or by email: [email protected].

This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy, and there will be no sale of securities in any state or jurisdiction in which such an offer, solicitation or sale be unlawful prior to registration or qualification under the securities laws of such state or territory.

About Ryerson

Ryerson is a leading processor and value-added distributor of industrial metals, with operations in the United States, Canada, Mexico and China. Founded in 1842, Ryerson has approximately 4,000 employees in approximately 100 locations.

Safe Harbor Layout

Certain statements made in this presentation and other written or oral statements made by or on behalf of the Company constitute “forward-looking statements” within the meaning of federal securities laws, including statements regarding our future performance, as well as management’s expectations, beliefs, intentions, plans, estimates, objectives or projections relating to the future. Such statements can be identified by the use of forward-looking terms such as “objectives”, “goals”, “preliminary”, “range”, “believes”, “expects”, “may”, “estimates”, “shall”, “should”, “plan” or “anticipate” or their negative form or other variations or comparable terminology, or through discussions of strategy. The Company cautions that these forward-looking statements are not guarantees of future performance and may involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements due to a variety of factors. Among the factors that materially impact our business are: the cyclical nature of our business; the highly competitive, volatile and fragmented metals industry in which we operate; fluctuating metal prices; our substantial indebtedness and commitments in the instruments governing such indebtedness; integration of acquired businesses; regulatory and other operational risks associated with our operations inside and outside the United States; the impacts and implications of adverse health events, including the COVID-19 pandemic; work stoppages; obligations under certain employee pension plans; ownership of a majority of our equity securities by a single group of investors; currency fluctuations; and consolidation in the metals industry. Forward-looking statements should therefore be considered in light of a variety of factors, including those set forth above and those set forth under “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, our quarterly report on Form 10-Q for the quarter ended March 31, 2022 and in our other filings with the Securities and Exchange Commission. Further, we caution you not to place undue reliance on such statements, which speak only as of the date on which they were made. The Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect future events or circumstances, new information or otherwise.

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