United States Steel Corporation - X STOCK NEWS

United States Steel Corporation (NYSE: X) released its first quarter 2021 guidance, projecting adjusted EBITDA of approximately $540 million and adjusted net income of around $160 million. The positive outlook is driven by strong market conditions and the acquisition of Big River Steel, enhancing segments like Flat-rolled and U. S. Steel Europe. Recent financing efforts have bolstered liquidity and reduced debt significantly. Despite some operational challenges in the Tubular segment, the overall sentiment remains bullish, fueled by recovering demand and improved steel pricing.

United States Steel Corporation (NYSE: X) has announced the acquisition of flat rolled sheet patents and trademarks from The NanoSteel Company, enhancing its lineup of advanced high-strength steels. This acquisition allows U. S. Steel to offer the most formable high-strength steel in the market, crucial for automotive and heavy industrial applications. President David B. Burritt mentioned ongoing discussions with global customers regarding new applications for these innovations. U. S. Steel now holds the majority of NanoSteel’s intellectual property, becoming the sole producer of its recognized high-strength steel grades.

United States Steel Corporation (NYSE: X) announced the successful completion of a stock offering, selling 42 million shares at $16.3733 each. The underwriter fully exercised its option to purchase an additional 6.3 million shares, generating approximately $103.2 million in net proceeds. The transaction is expected to close on February 18, 2021. U. S. Steel's strategic focus on innovation and sustainability positions it well within the steel industry, serving various sectors including automotive and construction.

U.S. Steel has joined The Valuable 500, an initiative promoting disability inclusion in business leadership. CEO David B. Burritt expressed the company's commitment to fostering diversity and inclusion through its SteelABILITY Employee Resource Group. The goals include advocating for individuals with disabilities, raising awareness, and promoting inclusion and respect throughout the organization. With a focus on safety and innovation, U.S. Steel continues to advance its competitive edge in the steel industry, serving various sectors with high-value products.

United States Steel Corporation (NYSE: X) announced the pricing of its upsized $750 million 6.875% senior notes due 2029. Initially set at $500 million, the offering was increased to meet demand. The notes will pay interest semi-annually, maturing on March 1, 2029. Proceeds will be utilized to redeem approximately $687 million of its existing 12.000% senior secured notes due 2025. The offering will close on February 11, 2021, with major financial institutions involved as joint book-running managers.

United States Steel Corporation (NYSE: X) announced plans to offer $500 million of senior notes due 2029. Proceeds will be used to redeem approximately $687 million of its existing senior secured notes due 2025, alongside cash on hand. A notice to redeem around $370 million of these notes was issued earlier. Leading financial firms such as Credit Suisse and Goldman Sachs are managing the offering. The offering is made under an effective shelf registration statement with the SEC. Investors are advised to review the preliminary prospectus for details.

U.S. Steel Corporation (NYSE: X) announced an upsized public offering of 42 million shares, raising approximately $699 million. The offering size increased from 40 million shares, with an underwriter option for an additional 6.3 million shares. The proceeds will primarily be used to redeem 35% of outstanding 2025 Senior Secured Notes and for general corporate purposes. The offering is expected to close around February 5, 2021. Morgan Stanley is the underwriter, and shares will be sold under an effective shelf registration statement.

United States Steel Corporation (NYSE: X) has initiated an underwritten public offering of 40 million shares of common stock, with an option for underwriters to purchase an additional 6 million shares. The net proceeds will be used to redeem 35% of its outstanding 2025 Senior Secured Notes and for general corporate purposes, including paying down debt. Morgan Stanley & Co. LLC is the underwriter for this offering. This move is part of U. S. Steel's strategy to manage its debt effectively.

United States Steel Corporation (NYSE: X) has declared a dividend of $0.01 per share, to be paid on March 9, 2021, to stockholders of record as of February 8, 2021. The company, founded in 1901, is a leading integrated steel producer with an annual raw steelmaking capacity of 26.2 million net tons. U. S. Steel focuses on producing high value-added steel products across various sectors, including automotive and infrastructure. Their innovative technology strategy aims to enhance sustainability and operational efficiency.