United States Steel Corporation (NYSE: X) announced that it has priced its underwritten public offering of approximately 18,900,000 shares of common stock, which was upsized from the previously announced 17,000,000 at a public offering price of $23 per share, for gross proceeds of approximately $434.7 million. The Company has granted the underwriters a 30-day option to purchase up to 2,835,000 additional shares of common stock from the Company. The offering is expected to close on or about August 15, 2016, subject to customary closing conditions.

The Company intends to use the net proceeds from the offering for financial flexibility, capital expenditures and other general corporate purposes.

J.P. Morgan, Goldman, Sachs & Co, Barclays, Wells Fargo Securities, Credit Suisse and Morgan Stanley are acting as joint book-running managers for the offering. BofA Merrill Lynch, PNC Capital Markets LLC, Scotiabank, Citizens Capital Markets, SunTrust Robinson Humphrey, BNY Mellon Capital Markets, LLC, Citigroup, COMMERZBANK, Huntington Investment Company,