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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Fri., Apr. 29, 1:59 AM

Slide #3. AK Steel Holding Corporation Secondary Offering

Company: AK Steel Holding Corporation (NYSE:AKS)
Date announced: 4/28/2016
Shares Offered: 52,000,000
Secondary Offering Details: AK Steel Holding Corporation (NYSE: AKS) ("AK Holding" or the "company"), the parent company of AK Steel Corporation ("AK Steel"), announced that it has commenced a registered offering of 52,000,000 shares of its common stock. In connection with this offering, AK Holding has granted the underwriters a 30-day option to purchase up to an additional 7,800,000 shares of common stock. AK Holding intends to use the net proceeds from the sale of the common stock to repay outstanding borrowings under AK Steel's $1.5 billion asset-based revolving credit facility. The offering is being made pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission (the "SEC").

AK Steel Holding produces flat-rolled carbon, stainless and electrical steels and tubular products via its AK Steel Corporation subsidiary. Co. produces flat-rolled carbon steels, including coated, cold-rolled and hot-rolled carbon steel products, stainless and electrical steels that are sold in sheet and strip form, as well as carbon and stainless steel that are finished into welded steel tubing. Co.'s operations include Mexican and European trading companies that buy and sell steel, steel products and other materials, AK Coal Resources, Inc., which produces metallurgical coal and a 49.9% interest in Magnetation LLC, which produces iron ore concentrate from previously-mined ore reserves.

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Company Name:  AK Steel Holding Corp.
Website:  www.aksteel.com
Sector:  Non-Precious Metals & Non-Metallic Mining
Number of ETFs Holding AKS:  34
Total Market Value Held by ETFs:  $99.30M
Total Market Capitalization:  $842.00M
% of Market Cap. Held by ETFs:  11.79%
 

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April 29, 2016    1:59 AM Eastern
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