Cleveland-Cliffs Inc. Announces Equity Offering

Cleveland-Cliffs Inc. has entered into an underwriting agreement with UBS Securities LLC for the issuance and sale of 75,000,000 common shares, with an option for the underwriters to purchase up to an additional 11,250,000 common shares. The shares are being offered at a price of $12.69 per share. The offering is part of the company's registration statement on Form S-3, which was previously filed with the SEC. The net proceeds from the offering will be used for general corporate purposes, including potential acquisitions, capital expenditures, and debt repayment. The company has also filed the necessary exhibits, including the underwriting agreement and legal opinions, as part of its Form 8-K filing.