SCHEDULE: Magnetar Financial and Affiliates Report Merger Completion of United Stainless & Alloy Products, Inc.

Magnetar Financial and its affiliates report the completion of the merger of United Stainless & Alloy Products, Inc., where each share was converted to $45.00 in cash.

Summary

• This document is a Schedule 13D filing, reporting the completion of the merger of United Stainless & Alloy Products, Inc.
• The merger was completed on January 23, 2025, and each share of United Stainless & Alloy Products, Inc. was converted into the right to receive $45.00 in cash.
• Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman are the reporting persons.
• Prior to the merger, the reporting persons collectively held 618,018 shares which were sold for the benefit of various funds and a managed account.
• As of the merger closing, the reporting persons no longer have beneficial ownership of any shares of United Stainless & Alloy Products, Inc.

Sentiment

Score: 7

Explanation: The document is neutral in tone, reporting a completed merger. The sentiment is positive as the merger was completed as expected, but there is no future outlook or positive growth mentioned.

Positives

• The merger was successfully completed, resulting in a cash payout of $45.00 per share for shareholders.
• The reporting persons have fulfilled their reporting obligations by filing this Schedule 13D.

Negatives

• The reporting persons no longer hold any shares in the company, indicating the end of their investment in United Stainless & Alloy Products, Inc.

Risks

• There are no specific risks mentioned in this document, as it primarily reports the completion of a merger.

Future Outlook

There are no forward-looking statements in this document, as it reports the completion of a merger.

Industry Context

This filing reflects a completed merger transaction, which is a common occurrence in the corporate world. It indicates the end of the company's existence as a separate entity and its integration into another company or structure.

Comparison to Industry Standards

• The merger process and reporting are standard practices in line with SEC regulations.
• The conversion of shares to cash is a typical outcome of a merger, and the $45.00 per share payout is a specific detail of this transaction.
• The filing of a Schedule 13D is a standard requirement for reporting changes in beneficial ownership, especially in the context of a merger.

Stakeholder Impact

• Shareholders of United Stainless & Alloy Products, Inc. received $45.00 per share in cash as a result of the merger.
• The company no longer exists as a separate entity.

Key Dates

Keywords

Merger, Schedule 13D, Magnetar Financial, United Stainless & Alloy Products, Beneficial Ownership, Share Conversion, David J. Snyderman