Ryerson Announces Secondary Offering By Principal Shareholder; Enters Concurrent Stock Repurchase

(RTTNews) - Ryerson Holding Corp. (RYI) announced its principal shareholder, an affiliate of Platinum Equity LLC, has commenced a secondary offering of 2,486,580 shares of the company's common stock. The selling stockholder will receive all of the net proceeds from the offering.

Also, the company has entered into a share repurchase agreement with the selling stockholder pursuant to which the company plans to separately repurchase 1,513,420 shares of common stock directly from the selling stockholder.

Ryerson is a value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China.