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AK Steel Announces Pricing of Offering of Common Stock

WEST CHESTER, OH, Apr 28, 2016 (Marketwired via COMTEX) -- AK Steel Holding Corporation AKS, +0.60% ("AK Holding" or the "company"), the parent company of AK Steel Corporation ("AK Steel"), announced today the pricing of its public offering of common stock. AK Holding agreed to sell 52,000,000 shares of its common stock at a public offering price of $4.40 per share. In connection with this offering, AK Holding has granted the underwriters a 30-day option to purchase up to an additional 7,800,000 shares of common stock.

AK Holding intends to use the net proceeds from the sale of the common stock to repay outstanding borrowings under AK Steel's $1.5 billion asset-based revolving credit facility. The offering is expected to close on May 4, 2016, subject to customary closing conditions.

Credit Suisse, Citigroup, Goldman, Sachs & Co., BofA Merrill Lynch, Deutsche Bank Securities, J.P. Morgan and Wells Fargo Securities are acting as joint book-running managers. The co-managers for the offering are BTIG, Fifth Third Securities, ING, PNC Capital Markets LLC and Regions Securities LLC.

AK Holding, along with certain of its subsidiaries, has filed a registration statement (including a prospectus) with the SEC relating to the offering. The offering may be made only by means of a prospectus supplement and the accompanying prospectus. Before you invest, you should read the prospectus supplement and accompanying prospectus and other documents AK Holding has filed with the SEC for more complete information about AK Holding and the offering. You may review electronic copies of these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.

Alternatively, any underwriter or any dealer participating in the offering will arrange to send you the prospectus supplement and accompanying prospectus if you request them by contacting: Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, telephone: 1-800-221-1037, or email: newyork.prospectus@credit-suisse.com; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or telephone: 1-800-831-9146; Goldman, Sachs & Co., Attn: Prospectus Department...


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