WS — 13F Holders Deep Dive

On July 15, 2026, Worthington Steel issued a press release announcing that the acceptance period has opened for its public delisting tender offer for all outstanding shares of Klöckner & Co SE not already owned by the company. The offer, made through its German subsidiary Worthington Steel GmbH, received approval from the German Federal Financial Supervisory Authority (BaFin).

Worthington Steel corrected its fourth-quarter earnings release after discovering errors in impairment charges and loan commitment costs. The company increased impairment charges for its Electrical Steel unit and added previously omitted bridge loan commitment costs. The corrections only affect the fiscal 2026 fourth quarter and full year, with no impact on earlier quarters or future guidance.

Worthington Steel entered into a new $550 million asset-based revolving credit facility on June 25, 2026, replacing its prior credit agreement with PNC. The facility can be increased up to $200 million at any time, or up to $650 million under certain conditions tied to the Klöckner acquisition. The funds will support the Klöckner acquisition, working capital, and general corporate purposes. The old credit agreement was terminated upon signing the new one.