U.S. Steel Converts Preferred Stock
The move will boost shares outstanding by 16 million.
The move will boost shares outstanding by 16 million.
Integrated steel products manufacturer
United States Steel
(X) - Get Report
said Thursday that each of its outstanding shares of 7% series B mandatory convertible preferred shares has automatically converted into 3.1928 shares of the company's common stock pursuant to the preferred shares' terms.
The conversion will increase the company's outstanding common stock by about 16 million shares.
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