Cleveland-Cliffs completes $951 million public offering of Common Shares

Client(s) Cleveland-Cliffs Inc.

Jones Day represented Cleveland-Cliffs Inc. in connection with an underwritten public offering of 75,000,000 of its Common Shares, resulting in net proceeds of $951 million.

Cleveland-Cliffs is a leading North America-based steel producer with a focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integrated from the mining of iron ore, production of pellets and direct reduced iron, and processing of ferrous scrap through primary steelmaking and downstream finishing, stamping, tooling, and tubing. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 30,000 people across its operations in the United States and Canada.