United States Steel Corporation - X STOCK NEWS

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.

United States Steel Corporation (NYSE: X) reported a fourth quarter 2020 net earnings of $49 million, translating to $0.22 per diluted share, compared to a net loss of $668 million in Q4 2019. Despite this improvement, the company posted an adjusted net loss of $60 million for the quarter and a full-year net loss of $1.165 billion. Net sales for Q4 2020 were $2.562 billion, down from $2.824 billion in Q4 2019. The company’s adjusted EBITDA reached $87 million, emphasizing growth potential driven by better pricing and cost management. U. S. Steel aims to leverage its acquisition of Big River Steel for future growth.

United States Steel Corporation (NYSE: X) has appointed Scott M. Dorn as Interim Head of Tubular Solutions, succeeding Douglas R. Matthews, who will retire in January. Dorn's extensive experience since joining U. S. Steel in 1988 positions him well for this role. The Tubular Products segment, a leading integrated tubular products manufacturer in North America, focuses on tailored energy solutions. U. S. Steel is committed to innovation and customer satisfaction, with an annual raw steelmaking capability of 23.2 million net tons.