BRIDGEVILLE, Penn., May 24, 2018 (GLOBE NEWSWIRE) -- Universal Stainless & Alloy Products, Inc. (the “Company”) (Nasdaq:USAP) announced today its intention to offer, subject to market and other conditions, shares of common stock in an underwritten registered public offering. The Company expects to grant the underwriter a 30-day option to purchase additional shares of common stock in an amount up to 15% of the number of shares of common stock to be offered.

The Company intends to use the net proceeds from the offering to repay amounts outstanding under the Company’s senior secured revolving credit facility.

Cowen and Company, LLC is acting as the sole book-running manager for the offering.

About Universal Stainless & Alloy Products, Inc.

The Company, established in 1994 and headquartered in Bridgeville, PA, manufactures and markets semi-finished and finished specialty steels, including stainless steel, nickel alloys, tool steel and certain other alloyed steels. The Company's products are used in a variety of industries, including aerospace, power generation, oil and gas, and heavy equipment manufacturing. More information is available at www.univstainless.com.