CHICAGO, Aug. 3, 2023
/PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI) (the
"Company" or "Ryerson") announced today that a significant
shareholder, an affiliate of Platinum Equity LLC (the "Selling
Stockholder"), has commenced a secondary offering of
4,000,000 shares of its common stock (the "Offering") pursuant
to a shelf registration statement filed with the Securities and
Exchange Commission (the "SEC"). The Selling Stockholder will
receive all of the net proceeds from the Offering. The Company is
not offering any shares of its common stock in the Offering and
will not receive any of the proceeds from the sale of the shares
offered by the Selling Stockholder.
J.P. Morgan is acting as the sole underwriter for the
Offering.
J.P. Morgan may offer the shares of common stock purchased from
the Selling Stockholder from time to time for sale in one or more
transaction to purchasers, directly or through agents, or through
brokers in brokerage transactions, on the New York Stock Exchange,
in the over-the-counter market, or through negotiated transactions
or otherwise at market prices prevailing at the time of sale, at
prices related to the prevailing market prices or at negotiated
prices.
A shelf registration statement on Form S-3 (including a
prospectus) relating to these securities has been filed with and
declared effective by the SEC. The Offering is being made solely by
means of a prospectus supplement and the accompanying prospectus.
You may obtain these documents for free by visiting EDGAR on the
SEC website at www.sec.gov. When available, copies of the
prospectus supplement and the accompanying prospectus relating to
the Offering may also be obtained by contacting: J.P. Morgan, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, by
telephone: 1-866-803-9204, or by emailing:
prospectus-eg_fi@jpmchase.com.
This press release is for informational purposes only and shall
not constitute an offer to sell or a solicitation of an offer to
buy, nor shall there be any sale of any securities in any state or
jurisdiction in which such an offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Ryerson
Ryerson is a leading value-added processor and distributor of
industrial metals, with operations in the
United States, Canada,
Mexico, and China. Founded in 1842, Ryerson has around
4,300 employees in approximately 100 locations.
Safe Harbor Provision
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 the 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 terminology such as "objectives," "goals,"
"preliminary," "range," "believes," "expects," "may," "estimates,"
"will," "should," "plans," or "anticipates" or the negative thereof
or other variations thereon or comparable terminology, or by
discussions of strategy. The Company cautions that any such
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 as a result of various factors. Among
the factors that significantly impact our business are: the
cyclicality of our business; the highly competitive, volatile, and
fragmented metals industry in which we operate; the impact of
geopolitical events, including Russia's invasion of Ukraine and global trade sanctions;
fluctuating metal prices; our indebtedness and the covenants in
instruments governing such indebtedness; the integration of
acquired operations; regulatory and other operational risks
associated with our operations located inside and outside of
the United States; the ownership
of a significant portion of our equity securities by a single
investor group; work stoppages; obligations under certain employee
retirement benefit plans; currency fluctuations; and consolidation
in the metals industry. Forward-looking statements should,
therefore, be considered in light of various factors, including
those set forth above and those set forth under "Risk Factors" in
our annual report on Form 10-K for the year ended December 31, 2022, our quarterly reports on Form
10-Q for the quarters ended March 31,
2023 and June 30, 2023 and in
our other filings with the Securities and Exchange Commission.
Moreover, we caution against placing undue reliance on these
statements, which speak only as of the date they were made. The
Company does not undertake any obligation to publicly update or
revise any forward-looking statements to reflect future events or
circumstances, new information or otherwise.
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SOURCE Ryerson Holding Corporation