Ramaco Resources announces $150M Class A common stock offering

Ramaco Resources (METC) announced that it has commenced a $150M underwritten public offering of its Class A common stock. In connection with the Offering, Yorktown Energy Partners IX, L.P., Yorktown Energy Partners, X, L.P., and Yorktown Energy Partners XI, L.P., selling stockholders of the company, intend to grant the underwriters a 30-day option to purchase up to an additional $22.5M of the company’s Class A common stock at the public offering price, less the underwriting discount. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The company currently intends to use the net proceeds from the offering to fund the acceleration of its development of its rare earth elements and critical minerals project, for strategic growth opportunities and for general corporate purposes. The company will not receive any proceeds from the sale of shares of the Class A common stock by Yorktown, in the event that the underwriters exercise their option to purchase additional shares. Morgan Stanley & Co. and Goldman Sachs & Co. are acting as lead joint book-running managers of the offering.