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Ryerson Holding Down 11%; Announces Pricing Of 3.5 Mln Shares Secondary Offering

Shares of metal suppliers and distributor Ryerson Holding Corp. (RYI) are trading down 11 percent on Wednesday after the company announced the pricing of an earlier declared secondary public offering of 3.5 million shares of its common stock, following a shelf registration statement filed with the Securities and Exchange Commission by its principal shareholder, an affiliate of Platinum Equity LLC.

Ryerson Holding added that the affiliate would receive all of the net proceeds from the offering.

Currently at $29.10, the stock has traded between $13.39 and $44.09 during the past 52 weeks.

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