NEW YORK () -- Shares of Cliffs Natural Resources () were trading lower early Thursday morning after announcing late Wednesday that it priced its share offering at a discount to current prices.
The Cleveland-based miner will sell about 44.4 million shares at $6.75 each, representing about a 4.7% discount to Wednesday's closing price of $7.07.
Cliffs Natural Resources will put the $300 million of gross proceeds toward "general corporate purposes" such as the...
More