Shares of U.S. Steel Corp. shed 4.1% in active premarket trade Wednesday, after the steel producer said it increased its share offering, and priced it at a discount to Tuesday’s closing price. Volume reached 3.2 million shares, making the stock the premarket’s most active. The company said late Tuesday that its public offering of 18.9 million shares, up from 17 million shares announced late Monday, priced at $23 a share, which was 5.2% below Tuesday’s closing price of $24.27. The company said it plans to use the $434.7 million in proceeds from the share sale for financial flexibility, capital expenditures and general corporate purposes. The stock, which had closed at an all-time low of $6.67 on Jan. 27, had more than tripled year to date through Tuesday, while the S&P 500 had gained 6.7%.
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