# EDGAR Filing Document

**Accession Number:** 0001050417
**File Stem:** 0000902664-23-001530
**Filing Date:** 2023-2
**Character Count:** 13149
**Document Hash:** 9eb782de946abfb702b2bc8b9df26639
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000902664-23-001530.hdr.sgml**: 20230213

**ACCESSION NUMBER**: 0000902664-23-001530

**CONFORMED SUBMISSION TYPE**: SC 13G/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230213

**DATE AS OF CHANGE**: 20230213

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Algoma Steel Group Inc.
- **CENTRAL INDEX KEY:** 0001860805
- **STANDARD INDUSTRIAL CLASSIFICATION:** STEEL WORKS, BLAST FURNACES  ROLLING MILLS (COKE OVENS) [3312]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93490
- **FILM NUMBER:** 23614898

**BUSINESS ADDRESS:**
- **STREET 1:** 105 WEST STREET
- **CITY:** SAULT STE. MARIE
- **STATE:** A6
- **ZIP:** P6A 7B4
- **BUSINESS PHONE:** 705-945-2351

**MAIL ADDRESS:**
- **STREET 1:** 105 WEST STREET
- **CITY:** SAULT STE. MARIE
- **STATE:** A6
- **ZIP:** P6A 7B4

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** 1295908 B.C. LTD.
- **DATE OF NAME CHANGE:** 20210505
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CONTRARIAN CAPITAL MANAGEMENT, L.L.C.
- **CENTRAL INDEX KEY:** 0001050417
- **IRS NUMBER:** 931183419
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** 411 WEST PUTNAM AVENUE
- **STREET 2:** SUITE 425
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830
- **BUSINESS PHONE:** 2038628201

**MAIL ADDRESS:**
- **STREET 1:** 411 WEST PUTNAM AVENUE
- **STREET 2:** SUITE 425
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CONTRARIAN CAPITAL MANAGEMENT LLC
- **DATE OF NAME CHANGE:** 19971126

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|:---|:---|
| &nbsp;&nbsp;SECURITIES AND EXCHANGE COMMISSION | &nbsp;&nbsp;SECURITIES AND EXCHANGE COMMISSION |
| &nbsp;&nbsp;Washington, D.C. 20549 | &nbsp;&nbsp;Washington, D.C. 20549 |
| &nbsp;&nbsp;SCHEDULE 13G/A | &nbsp;&nbsp;SCHEDULE 13G/A |
| &nbsp;&nbsp; Under the Securities Exchange Act of 1934<br> (Amendment No. 1)\* | &nbsp;&nbsp; Under the Securities Exchange Act of 1934<br> (Amendment No. 1)\* |
| &nbsp;&nbsp; Algoma Steel Group Inc. | &nbsp;&nbsp; Algoma Steel Group Inc. |
| &nbsp;&nbsp;(Name of Issuer) | &nbsp;&nbsp;(Name of Issuer) |
| &nbsp;&nbsp; Common Shares, no par value | &nbsp;&nbsp; Common Shares, no par value |
| &nbsp;&nbsp;(Title of Class of Securities) | &nbsp;&nbsp;(Title of Class of Securities) |
| &nbsp;&nbsp; 015658107 | &nbsp;&nbsp; 015658107 |
| &nbsp;&nbsp;(CUSIP Number) | &nbsp;&nbsp;(CUSIP Number) |
| &nbsp;&nbsp; December 31, 2022 | &nbsp;&nbsp; December 31, 2022 |
| &nbsp;&nbsp;(Date of Event Which Requires Filing of This Statement) | &nbsp;&nbsp;(Date of Event Which Requires Filing of This Statement) |
| &nbsp;&nbsp;Check the appropriate box to designate the rule pursuant to which this Schedule is filed: | &nbsp;&nbsp;Check the appropriate box to designate the rule pursuant to which this Schedule is filed: |
| &nbsp;&nbsp;⌧ | &nbsp;&nbsp;Rule 13d-1(b) |
| &nbsp;&nbsp;◻ | &nbsp;&nbsp;Rule 13d-1(c) |
| &nbsp;&nbsp;◻ | &nbsp;&nbsp;Rule 13d-1(d) |
| &nbsp;&nbsp;(Page 1 of 6 Pages) | &nbsp;&nbsp;(Page 1 of 6 Pages) |

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______________________________

\*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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|:---|:---|:---|
| **CUSIP No. 015658107** | **13G/A** | **Page 2 of 6 Pages** |

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|:---|:---|:---|:---|
| **1** | &nbsp;&nbsp; NAME OF REPORTING PERSON<br> Contrarian Capital Management, L.L.C. | &nbsp;&nbsp; NAME OF REPORTING PERSON<br> Contrarian Capital Management, L.L.C. | &nbsp;&nbsp; NAME OF REPORTING PERSON<br> Contrarian Capital Management, L.L.C. |
| **2** | &nbsp;&nbsp;CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | &nbsp;&nbsp;CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | &nbsp;&nbsp;(a) ◻<br> (b) ◻ |
| **3** | &nbsp;&nbsp;SEC USE ONLY | &nbsp;&nbsp;SEC USE ONLY | &nbsp;&nbsp;SEC USE ONLY |
| **4** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> Delaware | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> Delaware | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CITIZENSHIP OR PLACE OF ORGANIZATION<br> Delaware |
| &nbsp;&nbsp;NUMBER OF<br> SHARES<br> BENEFICIALLY<br> OWNED BY<br> EACH<br> REPORTING<br> PERSON WITH: | **5** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE VOTING POWER<br> 6,486,902 Common Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE VOTING POWER<br> 6,486,902 Common Shares |
| &nbsp;&nbsp;NUMBER OF<br> SHARES<br> BENEFICIALLY<br> OWNED BY<br> EACH<br> REPORTING<br> PERSON WITH: | **6** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED VOTING POWER<br> -0- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED VOTING POWER<br> -0- |
| &nbsp;&nbsp;NUMBER OF<br> SHARES<br> BENEFICIALLY<br> OWNED BY<br> EACH<br> REPORTING<br> PERSON WITH: | **7** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE DISPOSITIVE POWER<br> 6,486,902 Common Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOLE DISPOSITIVE POWER<br> 6,486,902 Common Shares |
| &nbsp;&nbsp;NUMBER OF<br> SHARES<br> BENEFICIALLY<br> OWNED BY<br> EACH<br> REPORTING<br> PERSON WITH: | **8** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED DISPOSITIVE POWER<br> -0- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARED DISPOSITIVE POWER<br> -0- |
| **9** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 6,486,902 Common Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 6,486,902 Common Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 6,486,902 Common Shares |
| **10** | &nbsp;&nbsp;CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | &nbsp;&nbsp;CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | &nbsp;&nbsp;◻ |
| **11** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)<br> 6.25% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)<br> 6.25% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)<br> 6.25% |
| **12** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> IA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> IA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TYPE OF REPORTING PERSON<br> IA |

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|:---|:---|:---|
| **CUSIP No. 015658107** | **13G/A** | **Page 3 of 6 Pages** |

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|:---|:---|
| &nbsp;&nbsp;**Item 1(a).** | &nbsp;&nbsp;**NAME OF ISSUER** |
|  | &nbsp;&nbsp;The name of the issuer is Algoma Steel Group Inc. (the "<u>Company</u>"). |

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|:---|:---|
| &nbsp;&nbsp;**Item 1(b).** | &nbsp;&nbsp;**ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES** |
|  | &nbsp;&nbsp;The Company's principal executive offices are located at 105 West Street, Sault Ste. Marie, Ontario, P6A 7B4, Canada. |

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|:---|:---|
| &nbsp;&nbsp;**Item 2(a).** | &nbsp;&nbsp;**NAME OF PERSON FILING** |
|  | &nbsp;&nbsp; This statement is filed by Contrarian Capital Management, L.L.C. (the "<u>Reporting Person</u>"). The Reporting Person, a registered investment adviser engaged in the management of institutional client accounts, serves as investment manager to and has voting and investment discretion over certain investment vehicles and managed accounts. The managing member of the Reporting Person is Jon R. Bauer.<br>The filing of this statement should not be construed as an admission that the Reporting Person is, for the purposes of Section 13 of the Securities Exchange Act of 1934, as amended, the beneficial owner of the Common Shares reported herein. |

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|:---|:---|
| &nbsp;&nbsp;**Item 2(b).** | &nbsp;&nbsp;**ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE** |
|  | &nbsp;&nbsp; 411 West Putnam Avenue, Suite 425<br> Greenwich, CT 06830 |

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|:---|:---|
| &nbsp;&nbsp;**Item 2(c).** | &nbsp;&nbsp;**CITIZENSHIP** |
|  | &nbsp;&nbsp;The Reporting Person is a limited liability company organized in Delaware. |

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|:---|:---|
| &nbsp;&nbsp;**Item 2(d).** | &nbsp;&nbsp;**TITLE OF CLASS OF SECURITIES** |
|  | &nbsp;&nbsp;Common Shares, no par value ("<u>Common Shares</u>") |

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|:---|:---|
| &nbsp;&nbsp;**Item 2(e).** | &nbsp;&nbsp;**CUSIP NUMBER** |
|  | &nbsp;&nbsp;015658107 |

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|:---|:---|
| &nbsp;&nbsp;**Item 3.** | &nbsp;&nbsp;**IF THIS STATEMENT IS FILED PURSUANT TO Rules 13d-1(b), OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:** |

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(a) ◻ Broker or dealer registered under Section 15 of the Act;

(b) ◻ Bank as defined in Section 3(a)(6) of the Act;

(c) ◻ Insurance company as defined in Section 3(a)(19) of the Act;

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| | | |
|:---|:---|:---|
| **CUSIP No. 015658107** | **13G/A** | **Page 4 of 6 Pages** |

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(d) ◻ Investment company registered under Section 8 of the Investment Company Act of 1940;

(e) ⌧ An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

(f) ◻ An employee benefit plan or endowment fund in accordance
 with Rule 13d-1(b)(1)(ii)(F);

(g) ◻ A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);

(h) ◻ A savings association as defined in Section 3(b) of the Federal Deposit
 Insurance Act;

(i) ◻ A church plan that is excluded from the definition of an investment company
 under Section 3(c)(14) of the Investment Company Act;

(j) ◻ A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J);

(k) ◻ Group, in accordance with Rule 13d-1(b)(1)(ii)(K).

If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: ___________________________________

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|:---|:---|
| &nbsp;&nbsp;**Item 4.** | &nbsp;&nbsp;**OWNERSHIP** |
|  | &nbsp;&nbsp; The information required by Items 4(a) - (c) is set forth in Rows 5 - 11 of the cover page for the Reporting Person and is incorporated herein by reference.<br>The percentages set forth herein are calculated based upon 103,842,400 Common Shares outstanding as of September 30, 2022, as reported in Exhibit 99.2 of the Company's Report of Foreign Issuer on Form 6-K filed with the Securities and Exchange Commission on November 8, 2022. |

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|:---|:---|
| &nbsp;&nbsp;**Item 5.** | &nbsp;&nbsp;**OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS** |
|  | &nbsp;&nbsp;Not applicable. |

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|:---|:---|
| &nbsp;&nbsp;**Item 6.** | &nbsp;&nbsp;**OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON** |
|  | &nbsp;&nbsp;See Item 2. |

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|:---|:---|
| &nbsp;&nbsp;**Item 7.** | &nbsp;&nbsp;**IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON** |
|  | &nbsp;&nbsp;Not applicable. |

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|:---|:---|:---|
| **CUSIP No. 015658107** | **13G/A** | **Page 5 of 6 Pages** |

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|:---|:---|
| &nbsp;&nbsp;**Item 8.** | &nbsp;&nbsp;**IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP** |
|  | &nbsp;&nbsp;Not applicable. |

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|:---|:---|
| &nbsp;&nbsp;**Item 9.** | &nbsp;&nbsp;**NOTICE OF DISSOLUTION OF GROUP** |
|  | &nbsp;&nbsp;Not applicable. |

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|:---|:---|
| &nbsp;&nbsp;**Item 10.** | &nbsp;&nbsp;**CERTIFICATION** |

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|:---|
| &nbsp;&nbsp;The Reporting Person hereby makes the following certification: |
| &nbsp;&nbsp;By signing below the Reporting Person certifies that, to the best of its knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. |

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|:---|:---|:---|
| **CUSIP No. 015658107** | **13G/A** | **Page 6 of 6 Pages** |

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**SIGNATURES**

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete, and correct.

DATE: February 13, 2023

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|:---|
| **CONTRARIAN CAPITAL MANAGEMENT L.L.C.** |
| /s/ Jon R. Bauer |
| Name: Jon R. Bauer |
| Title: Managing Member |

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