--- schema_version: "secwatch.filing_event.v1" accession: "0001437749-23-000197" form_type: "8-K" ticker: null cik: "0000917470" company_name: "OLYMPIC STEEL INC" filed_at: "2023-01-03T23:59:59+00:00" generated_at: "2026-06-20T21:14:38.982066+00:00" event_type: "m_and_a" sentiment: "neutral" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # Olympic Steel acquires Metal-Fab for $131M cash; credit facility increased to $625M ## Summary - OS Holdings, Olympic Steel subsidiary, bought all shares of Metal-Fab for $131M cash on Jan 3, 2023. - Metal-Fab manufactures venting, micro air, and clean air products for residential, commercial, industrial uses. - Revolving credit facility expanded from $475M to $625M via Sixth Amendment to Loan Agreement. - Metal-Fab and OS Holdings added as borrowers under the amended credit facility. ## SEC filing metadata - accession: 0001437749-23-000197 - form_type: 8-K - cik: 0000917470 - company_name: OLYMPIC STEEL INC - filed_at: 2023-01-03T23:59:59+00:00 - event_type: m_and_a - sentiment: neutral - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 1.01, 2.01, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/917470/000143774923000197/0001437749-23-000197-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/917470/000143774923000197/zeus20221231_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001437749-23-000197 - JSON: https://secwatch.observer/filing/0001437749-23-000197.json - Plain text: https://secwatch.observer/filing/0001437749-23-000197.txt ## Key facts - Debt Financings OLYMPIC STEEL INC amended revolving credit of $625.0 million with Bank of America, N.A.. - Instrument: revolving credit - Principal: $625.0 million - Counterparty: Bank of America, N.A. - Event: amendment source text: increasing the commitments under the revolving credit facility from $475.0 million to $625.0 million and joining OS Holdings and Metal-Fab as Borrowers under the Loan Agreement. evidence_url: https://www.sec.gov/Archives/edgar/data/917470/000143774923000197/0001437749-23-000197-index.htm - M&A Transactions OLYMPIC STEEL INC completed an acquisition involving Metal-Fab, Inc. for cash purchase price of $131.0 million (closed 2023-01-03). - Action: acquisition - Counterparty: Metal-Fab, Inc. - Consideration: cash purchase price of $131.0 million - Closing: 2023-01-03 source text: On January 3, 2023, OS Holdings, Inc. (“OS Holdings”), an Ohio corporation and a wholly-owned subsidiary of Olympic Steel, Inc., an Ohio corporation (the “Company”), entered into a Stock Purchase Agreement (the “Purchase Agreement”) with Metal-Fab, Inc., a Kansas corporation (“Metal-Fab”), the sellers party thereto (collectively, the “Sellers”) and a representative of the Sellers. Pursuant to the terms of the Purchase Agreement, on January 3, 2023, OS Holdings purchased all of the outstanding shares of capital stock of Metal-Fab from the Sellers for a cash purchase price of $131.0 million, subject to a final working capital adjustment. evidence_url: https://www.sec.gov/Archives/edgar/data/917470/000143774923000197/0001437749-23-000197-index.htm - Material Agreements OLYMPIC STEEL INC entered into Purchase Agreement with Metal-Fab, Inc., the sellers (collectively, the "Sellers"), and a representative of the Sellers valued at $131.0 million (effective 2023-01-03). - Action: entry - Agreement: asset purchase - Counterparty: Metal-Fab, Inc., the sellers (collectively, the "Sellers"), and a representative of the Sellers - Value: $131.0 million - Effective: 2023-01-03 source text: On January 3, 2023, OS Holdings, Inc. (“OS Holdings”), an Ohio corporation and a wholly-owned subsidiary of Olympic Steel, Inc., an Ohio corporation (the “Company”), entered into a Stock Purchase Agreement (the “Purchase Agreement”) with Metal-Fab, Inc., a Kansas corporation (“Metal-Fab”), the sellers party thereto (collectively, the “Sellers”) and a representative of the Sellers. Pursuant to the terms of the Purchase Agreement, on January 3, 2023, OS Holdings purchased all of the outstanding shares of capital stock of Metal-Fab from the Sellers for a cash purchase price of $131.0 million, subject to a final working capital adjustment. evidence_url: https://www.sec.gov/Archives/edgar/data/917470/000143774923000197/0001437749-23-000197-index.htm - Material Agreements OLYMPIC STEEL INC amended Sixth Amendment with the lenders party thereto and Bank of America, N.A., as agent for the Lenders valued at from $475.0 million to $625.0 million (effective 2023-01-03). - Action: amendment - Agreement: credit facility - Counterparty: the lenders party thereto and Bank of America, N.A., as agent for the Lenders - Value: from $475.0 million to $625.0 million - Effective: 2023-01-03 source text: Additionally on January 3, 2023, the Company and certain of its wholly-owned direct and indirect domestic subsidiaries (collectively with the Company, the “Borrowers”) entered into the Joinder and Sixth Amendment to Third Amended and Restated Loan and Security Agreement (the “Sixth Amendment”), with the lenders party thereto (the “Lenders”) and Bank of America, N.A., as agent for the Lenders (the “Agent”). The Sixth Amendment amends the Third Amended and Restated Loan and Security Agreement, dated as of December 8, 2017 (as amended, the “Loan Agreement”), among the Borrowers from time to time party thereto, the Lenders from time to time party thereto and the Agent, for purposes of, among other things, increasing the commitments under the revolving credit facility from $475.0 million to $625.0 million and joining OS Holdings and Metal-Fab as Borrowers under the Loan Agreement. evidence_url: https://www.sec.gov/Archives/edgar/data/917470/000143774923000197/0001437749-23-000197-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.