WHEELING, W.Va., July 1 /PRNewswire-FirstCall/ -- Wheeling-Pittsburgh
Corporation (Nasdaq: WPSC) announced that it filed with the Securities and
Exchange Commission a registration statement on June 30, 2004 for a public
offering of its common stock. It is expected that a total of 3,500,000 shares
will be offered, including 3,142,400 newly issued shares to be sold by the
Company and 357,600 shares to be sold by the VEBA Trust, which was established
by the Company to provide past United Steelworkers of America retirees with
medical and life insurance benefits.
UBS Securities LLC is the sole book-running manager for the offering.
KeyBanc Capital Markets is acting as the co-manager for the offering. The
underwriters will have an option to purchase up to a total of 525,000
additional shares from the Company to cover over-allotments.
A registration statement relating to these securities has been filed with
the Securities and Exchange Commission, but has not yet become effective.
These securities may not be sold, nor may offers to buy be accepted prior to
the time the registration statement becomes effective. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of these securities in any state in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws on any such state.
Copies of the prospectus, when available, can be obtained from UBS
Securities LLC, Prospectus Department, 299 Park Ave., New York, NY, 10171.
Wheeling-Pittsburgh Corporation is a metal products company with
approximately 3,100 employees. It has facilities in Steubenville, Mingo
Junction, Yorkville, and Martins Ferry, OH; Beech Bottom and Follansbee, WV;
and Allenport, PA.
Statements in this release that express a belief, expectation or
intention, as well as those which are not historical fact, are forward
looking. They involve a number of risks and uncertainties, which may cause
actual results to differ materially from such forward-looking statements. For
more information about these risks and uncertainties, please refer to
Wheeling-Pittsburgh Corporation's annual report on Form 10-K for the period
ending December 31, 2003, and other filings, with the Securities and Exchange
Commission.
SOURCE Wheeling-Pittsburgh Steel Corporation
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