AK STEEL HOLDING CORPORATION (NYSE:AKS) Files An 8-K Other EventsItem 8.01Other Events.
On August 2, 2017, AK Steel Holding Corporation (the “Company”) issued a press release announcing that AK Steel Corporation, its wholly-owned subsidiary (“AK Steel”), commenced an offer to purchase (the “Tender Offer”) for cash any and all of the $279.8million outstanding principal amount of its 8.375% senior notes due 2022 (CUSIP 001546 AM2) (the “Notes”). The Tender Offer is being made upon the terms and subject to the conditions set forth in the Offer to Purchase dated August 2, 2017, and a related Letter of Transmittal and Notice of Guaranteed Delivery, which set forth the terms and conditions of the Tender Offer in full detail. Holders who validly tender their Notes at or prior to 5:00 p.m.New York City time on August 8, 2017 (the “Expiration Date”) will be eligible to receive the purchase price of $1,046.70 per $1,000 principal amount of Notes tendered. Tendering holders will also receive accrued and unpaid interest from the last applicable interest payment date to, but not including, the settlement date of the Tender Offer.
AK Steel expressly reserves the right, in its sole discretion, subject to applicable law, to terminate the Tender Offer at any time prior to the Expiration Date. The Tender Offer is subject to the satisfaction of certain conditions set forth in the Offer to Purchase.
In addition, as of August 1, 2017, the Company has received all required regulatory approvals in connection with its previously announced acquisition of Precision Partners Holding Company and expects to close the acquisition in early August 2017.
A copy of the Company’s press release is attached as Exhibit99.1 to this Current Report on Form8-K and is incorporated into this Item 8.01 by reference.
Item 8.01. Financial Statements and Exhibits
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ExhibitNumber |
DescriptionofExhibit |
| 99.1 | Press Release issued on August 2, 2017. |
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AK STEEL HOLDING CORP ExhibitEX-99.1 2 d429644dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 News Release Contacts: Media Lisa H. Jester,…To view the full exhibit click here
About AK STEEL HOLDING CORPORATION (NYSE:AKS)
AK Steel Holding Corporation is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company operates approximately eight steelmaking and finishing plants, over two coke plants and approximately two tube manufacturing plants across states, which include Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia. These operations produce flat-rolled carbon, specialty stainless and electrical steels that it sells in sheet and strip form, and carbon and stainless steel that it finishes into welded steel tubing. The Company also produces metallurgical coal through its subsidiary, AK Coal Resources, Inc. (AK Coal). In addition, the Company operates trading companies in Mexico and Europe that buy and sell steel and steel products and other materials. It sells flat-rolled carbon steel products, consisting of coated, cold-rolled, and hot-rolled carbon steel products.