PITTSBURGH--(BUSINESS WIRE)--Allegheny Technologies Incorporated (NYSE:ATI) announced today its intention to offer, subject to market and other conditions, 17,000,000 shares of common stock in an underwritten registered public offering. ATI expects to grant the underwriter a 30-day option to purchase up to 2,550,000 additional shares of common stock.

ATI intends to use the net proceeds from the offering to fund a redemption of all of ATI’s outstanding 9.375% Senior Notes due 2019 (the “2019 Notes”), of which $350.0 million aggregate principal amount is outstanding, in accordance with the terms of the indenture governing the 2019 Notes. Any net proceeds from the offering that are not used to fund a redemption of all of the outstanding 2019 Notes will be used for general corporate purposes.