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Nucor Closes Common Stock Offering
05/30/2008 - Nucor closes its public offering of 27,667,580 shares of common stock, including 2,667,580 shares issued after the underwriters exercised their over-allotment option.
Nucor Corp. has closed its public offering of 27,667,580 shares of common stock, including 2,667,580 shares issued after the underwriters exercised their over-allotment option. The offering was priced at $74.00 per share.
Nucor says it will use net proceeds from the offering for general corporate purposes including acquisitions, capital expenditures, working capital needs and repayment of debt. Gross proceeds of the offering were approximately $2.047 billion.
Banc of America Securities LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. acted as Joint Book-Running Managers for the offering.
Nucor and affiliates manufacture steel products, with operating facilities primarily in the U.S. and Canada. Products produced include carbon and alloy steel bars, beams, sheet and plate; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; steel grating and expanded metal; and wire and wire mesh. Nucor, through The David J. Joseph Co. and its affiliates, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.
