0000918160-15-000037.txt : 20150601 0000918160-15-000037.hdr.sgml : 20150601 20150601083357 ACCESSION NUMBER: 0000918160-15-000037 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20150529 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20150601 DATE AS OF CHANGE: 20150601 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AK STEEL HOLDING CORP CENTRAL INDEX KEY: 0000918160 STANDARD INDUSTRIAL CLASSIFICATION: STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS) [3312] IRS NUMBER: 311401455 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13696 FILM NUMBER: 15901379 BUSINESS ADDRESS: STREET 1: 9227 CENTRE POINTE DRIVE CITY: WEST CHESTER STATE: OH ZIP: 45069 BUSINESS PHONE: 5134255000 MAIL ADDRESS: STREET 1: 9227 CENTRE POINTE DRIVE CITY: WEST CHESTER STATE: OH ZIP: 45069 8-K 1 form8-kdoubleeaglesaleofeq.htm 8-K Form 8-K Double Eagle Sale of Equity Interest


 

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8‑K
CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT - May 29, 2015
(Date of Earliest Event Reported)
AK STEEL HOLDING CORPORATION
(Exact name of registrant as specified in its charter)
 
Commission File No. 1-13696

Delaware
 
31-1401455
(State of Incorporation)
 
(I.R.S. Employer Identification No.)
 
 
 
9227 Centre Pointe Drive
West Chester, OH
 
45069
(Address of principal executive offices)
 
(Zip Code)

Registrant's telephone number, including area code: (513) 425-5000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
q
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
q
Solicitation material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
q
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
q
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))





Item 7.01
Regulation FD Disclosure.

On May 29, 2015, AK Steel Corporation (“AK Steel”) sold its 50% equity interest in Double Eagle Steel Coating Company (“DESCCO”) to United States Steel Corporation (“US Steel”), the owner of the remaining 50% equity interest in DESCCO, for $25.2 million. The DESCCO equity ownership interest was acquired as part of AK Steel’s acquisition of Severstal Dearborn, LLC on September 16, 2014. AK Steel has not utilized the DESCCO facility to process any steel products since it acquired the equity interest. AK Steel has agreed to provide certain limited services to US Steel in order to transition the operations of DESCCO. In conjunction with the sale, AK Steel and US Steel agreed to settle all pending litigation and release all claims between the parties with respect to DESCCO.

AK Steel’s sale of its equity interest in DESCCO has no material impact on earnings or revenue and the proceeds are substantially equivalent to the carrying value of the investment on AK Steel’s consolidated balance sheet. As such, the proceeds of the sale increase AK Steel’s liquidity by $25.2 million and AK Steel will not recognize a material gain or loss from the sale of the equity interest.


 











SIGNATURES




Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.




 
AK STEEL HOLDING CORPORATION
 
 
 
 
 
 
 
 
 
 
By:
/s/ Joseph C. Alter
 
 
 
Joseph C. Alter
 
 
 
Corporate Secretary
 
 
 
 
 
 
 
 
 
Dated: June 1, 2015