Stelco Holdings Inc. closed C$220.11 M bought deal secondary offering

Date Closed

May 28, 2021

Lead Office

Toronto

Value

220.11 Million CAD

On May 28, 2021, Stelco Holdings Inc. closed on the previously announced bought deal secondary offering of 6,670,000 common shares by LG Bedrock Holdings LP at a price of $33.00 per Common Share for aggregate gross proceeds of C$220.11 M to the Selling Shareholder.

The Offering was completed by way of a prospectus supplement dated May 28, 2021 to the final base shelf prospectus of the Company dated February 11, 2021.

The Offering was led by BMO Capital Markets. All net proceeds of the Offering, after deducting the underwriting commission, were paid to Bedrock Holdings.

Stelco is a steel company based in Hamilton, Ontario, and is a significant economic player the Canadian steel industry. Stelco's steel products are supplied to customers in the construction, automotive and energy industries across Canada and the United States as well as to steel service centres.

Bedrock based in Amsterdam, Netherlands, is a private equity firm focused on owning and operating metals, mining and natural resources assets and companies.

McCarthy Tétrault LLP advised Stelco with a team led by Andrew Parker that included Victoria Zed (Business).

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