Cleveland-Cliffs Inc Stock Price, News & Analysis

Cleveland-Cliffs (NYSE: CLF) priced an underwritten public offering of 75,000,000 common shares for expected gross proceeds of $964 million, before discounts and expenses. The company granted the underwriter a 30-day option to purchase up to an additional 11,250,000 shares. The Offering is expected to close on October 31, 2025, subject to customary closing conditions.

Cliffs intends to use net proceeds to repay borrowings under its asset-based credit facility, with any remaining amounts for general corporate purposes. UBS Securities LLC is lead underwriter and the shares are offered from an automatically effective shelf registration; a prospectus supplement has been filed with the SEC.

Cleveland-Cliffs (NYSE: CLF) announced on October 29, 2025 a proposed underwritten public offering of 75,000,000 common shares with a 30‑day underwriter option for up to an additional 11,250,000 shares. The company said net proceeds are intended primarily for repayment of borrowings under its asset‑based credit facility, with any remaining proceeds for general corporate purposes.

UBS Securities LLC is acting as underwriter; shares will be offered from time to time on the NYSE, OTC, or through negotiated transactions. The offering is being made under a newly filed automatically effective shelf registration; a preliminary prospectus supplement is available at www.sec.gov.

Cleveland-Cliffs (NYSE: CLF) completed a production trial with a major automotive OEM on October 29, 2025, stamping exposed steel parts with no defects using the OEM’s existing aluminum-forming equipment.

The trial demonstrated steel replacing aluminum without costly retooling, enabled by Cleveland-Cliffs’ technical service and application engineering teams who tuned material design and forming parameters.

The program moved from trial to routine production and delivery for the client, and Cleveland-Cliffs reports additional client inquiries for similar aluminum-to-steel replacement programs.

Cleveland-Cliffs (NYSE: CLF) reported third-quarter 2025 results for the period ended September 30, 2025. Key Q3 metrics include steel shipments of 4.0 million net tons, consolidated revenues of $4.7 billion, a GAAP net loss of $234 million and an adjusted net loss of $223 million (or $0.45 per diluted share). Adjusted EBITDA was $143 million. Liquidity stood at $3.1 billion at quarter end.

The company updated full‑year 2025 guidance: capital expenditures of ~$525 million (previously $600 million), SG&A ~$550 million (previously $575 million), and maintained ~$50 per ton steel unit cost reduction versus 2024. Management noted multi‑year automotive supply arrangements and an MoU with a major global steel producer; UBS is advisor on that transaction.

Cleveland-Cliffs (NYSE: CLF) announced an upsized offering of an additional $275 million aggregate principal amount of Senior Unsecured Guaranteed Notes due 2034. The Additional Notes will be issued at 102.750% of principal, implying a yield of 6.992%, and are guaranteed by Cliffs' material domestic wholly-owned subsidiaries (with certain exclusions).

The offering is expected to close on October 10, 2025, subject to customary closing conditions. Net proceeds are intended to be used to repay borrowings under the company's asset-based lending facility. The notes are being offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S.

Cleveland-Cliffs (NYSE: CLF) intends to offer an additional $200 million aggregate principal amount of its 7.625% Senior Unsecured Guaranteed Notes due 2034 as an add-on to the existing issue.

The Additional Notes will be identical to the existing 7.625% notes issued under the September 8, 2025 indenture, guaranteed by Cliffs' material domestic subsidiaries, and offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S. Wells Fargo is sole bookrunner. Net proceeds are intended to repay borrowings under Cliffs' asset-based credit facility.

Cleveland-Cliffs (NYSE:CLF) has scheduled its Q3 2025 earnings announcement for Monday, October 20, 2025, before the U.S. market opens. The company will host a conference call with securities analysts and institutional investors at 8:30 am ET on the same day to discuss the results.

Interested parties can access the live broadcast and replay of the conference call through the company's website at www.clevelandcliffs.com.

Cleveland-Cliffs (NYSE: CLF) announced the voluntary dismissal of a lawsuit filed by U.S. Steel Corporation, Nippon Steel Corporation, and Nippon Steel North America. The lawsuit, originally filed on January 6, 2025, against Cleveland-Cliffs, CEO Lourenco Goncalves, and United Steelworkers President David McCall, was dismissed with prejudice on September 3, 2025.

The settlement agreement includes a full release of all defendants with no financial consideration exchanged. While other terms remain confidential, CEO Goncalves emphasized that the company remains focused on advancing its steelmaking leadership position in North America.

Cleveland-Cliffs (NYSE: CLF) has announced the pricing of $850 million Senior Unsecured Notes due 2034. The notes will carry an interest rate of 7.625% and will be issued at par, with guarantees from Cliffs' material wholly-owned domestic subsidiaries.

The company plans to use the proceeds to redeem all outstanding 5.875% and 7.00% Senior Guaranteed Notes due 2027, including AK Steel's 7.00% Senior Notes, and repay borrowings under its asset-based credit facility. The offering is expected to close on September 8, 2025, subject to customary conditions.