Ramaco Resources has announced a significant increase in its liquidity position, with current holdings totaling over $580 million as of November 7, 2025. This marks a substantial rise from the $87 million reported on June 30, 2025. The company attributes this increase to the success of three recent financing initiatives.
On November 7, 2025, Ramaco issued $345 million in 0% convertible senior notes due 2031, which includes a capped call feature to limit dilution upon conversion at maturity in six years unless the stock price exceeds approximately $55 per share. This was preceded by an equity offering on August 7, 2025, which raised $200 million through the sale of over 10.6 million METC shares at $18.75 per share. Additionally, on July 23, 2025, the company issued $65 million in senior unsecured notes due 2030, using a portion of these funds to pay off its senior unsecured notes due 2026.
Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC served as book-running managers for both the convertible bond and equity offerings, while Lucid Capital Markets led the baby bond offering.
The enhanced liquidity resulting from these initiatives will enable Ramaco to accelerate the commercial development of rare earth elements and critical minerals from its Brook Mine, while also supporting strategic growth opportunities and general corporate purposes. The company emphasizes its commitment to disciplined financial management.
The significant increase in liquidity and successful financing initiatives position Ramaco Resources to pursue its strategic plans for commercial development and strategic growth, underlining the company's commitment to disciplined financial management and responsible allocation of resources. The market has reacted to these announcements by moving the company's shares -7.62% to a price of $22.485. For more information, read the company's full 8-K submission here.
