Ramaco Resources, Inc. has announced a proposed public offering of senior unsecured notes due 2029. The company plans to offer the notes in a registered underwritten public offering and intends to use the net proceeds for general corporate purposes, including funding future investments, making capital expenditures, and funding working capital. The notes will be issued in minimum denominations of $25.00 and integral multiples of $25.00 in excess thereof.
In connection with the offering, the company has applied to list the notes on the NASDAQ Global Select Market under the symbol "METCZ." Lucid Capital Markets, LLC will act as the lead bookrunner for the offering, with B. Riley Securities, Inc., Janney Montgomery Scott LLC, and Piper Sandler & Co. serving as joint book-running managers for the offering. Additionally, The Benchmark Company, LLC, Insperex LLC, TCBi Securities, Inc., doing business as Texas Capital Securities, and William Blair & Company, L.L.C. will act as lead managers for the offering.
The offering is being made by the company pursuant to a registration statement on Form S-3, which was declared effective by the United States Securities and Exchange Commission ("SEC") on September 29, 2023.
Ramaco Resources, Inc. is an operator and developer of high-quality, low-cost metallurgical coal in Southern West Virginia and Southwestern Virginia, as well as a developing producer of rare earth and critical minerals in Wyoming. The company currently has four active metallurgical coal mining complexes in Central Appalachia and one development rare earth and coal mine near Sheridan, Wyoming, in the initial stages of production.
Investors and stakeholders can obtain more information about Ramaco Resources, including filings with the Securities and Exchange Commission, on the company's website. For further details, they can also contact investor relations at (859) 244-7455.
It's important to note that certain statements contained in the press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to various risks and uncertainties. Today the company's shares have moved -4.9% to a price of $12.5. If you want to know more, read the company's complete 8-K report here.
