USAP News & Events

Universal Stainless & Alloy Products announced the completion of its previously-announced acquisition by Aperam pursuant to which Universal stockholders are entitled to receive $45.00 per share of Universal's common stock in the all-cash transaction. The Acquisition was announced on October 17, 2024 and was approved by Universal stockholders at a Special Meeting held on January 15, 2025. With completion of the Acquisition, Universal has become a wholly-owned subsidiary of Aperam and the shares of Universal common stock, previously traded under the symbol USAP, have ceased trading on the NASDAQ Stock Market.

Universal Stainless & Alloy's stockholders have voted at a special meeting of Universal stockholders to approve the company's pending acquisition by Aperam S.A. Under the terms of the merger agreement governing the proposed acquisition, Universal stockholders are entitled to receive $45.00 per share in cash for every share of Universal common stock they own immediately prior to the effective time of the merger. Approximately 99% of the shares voted were voted in favor of the merger, which represented approximately 68% of the total outstanding shares of Universal common stock as of November 22. The transaction is expected to close in Q1 2025.

Universal Stainless & Alloy is set to be acquired by Aperam S.A. in early 2025, notes Hunterbrook Media, which also says that a U.S. Air Force Safety Investigation Board report leaked to the media shows that "Universal Stainless is behind a fatal Osprey crash in Japan that killed eight U.S. airmen, and potentially at least five prior aircraft failures." Universal has a history of quality control issues going back at least as far as 2001, claims Hunterbrook Media, which notes that based on Hunterbrook Media's reporting, Hunterbrook Capital is short Universal Stainless at the time of publication of its report.