Company: ZEUS
Filing Date: 2025-10-30
Form Type: 8-K
Source: 0001437749-25-032436
Chunk: 0

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01

Entry into a Material Definitive Agreement.

On October 28, 2025, Olympic Steel, Inc., an Ohio corporation (the “ Company”), entered into an Agreement and Plan of Merger (the “ Merger Agreement”) with Ryerson Holding Corporation, a Delaware corporation (“ Ryerson”), and Crimson MS Corp., an Ohio corporation and a wholly owned subsidiary of Ryerson (“ Merger Sub” and, together with Ryerson, the “ Parent Parties”). The Merger Agreement provides that, subject to the terms and conditions set forth therein, Merger Sub will merge with and into the Company (the “ Merger”), with the Company continuing as the surviving corporation and a wholly owned subsidiary of Ryerson.

The board of directors of the Company (the “ Board”) has unanimously approved and declared advisable the Merger Agreement and resolved to recommend the adoption of the Merger Agreement by the shareholders of the Company (the “ Company Shareholders”), who will be asked to vote on the adoption of the Merger Agreement at a special meeting of the Company Shareholders.

The Merger

At the effective time of the Merger (the “ Effective Time”), and upon consummation of the Merger, subject to the terms and conditions set forth in the Merger Agreement, each share of the Company’s common stock (“ Company Common Stock”) issued and outstanding immediately prior to the Effective Time will be canceled and converted into and thereafter represent the right to receive that number of validly issued, fully paid and non-assessable shares of common stock, $0.01 par value per share, of Ryerson (“ Ryerson Common Stock”) equal to 1.7105 (the “ Exchange Ratio”), rounded down to the nearest whole share and, if applicable, the cash amount to be paid in lieu of fractional shares (the “ Merger Consideration”).

Treatment of Stock-Based and Long-Term Cash Awards

As of the Effective Time, each time-based restricted stock unit with respect to shares of Company Common Stock (each, a “ Company RSU”) that is outstanding immediately prior to the Effective Time will be assumed by Ryerson and converted into a restricted stock unit award with respect to shares of Ryerson Common Stock (rounded down to the nearest whole share) equal to the product of (X) the number of shares of Company Common Stock subject to such Company RSU multiplied by (Y) the Exchange Ratio. Each assumed and converted Company RSU will remain subject to the same terms and conditions that applied to such Company RS