Ramaco Resources announces $300M offering of convertible senior notes due 2031

Ramaco Resources (METC) announced its intention to offer, in an underwritten public offering $300M aggregate principal amount of convertible senior notes due 2031, plus up to an additional $45M aggregate principal amount of notes that the underwriters of the notes offering have the option to purchase from Ramaco solely to cover over-allotments. Concurrently with the offering of the notes, Goldman Sachs & Co. and Morgan Stanley & Co. intend to offer, in a separate, underwritten public offering, a number of shares of Ramaco’s Class A common stock borrowed from non-affiliate third parties to facilitate hedging transactions by some of the purchasers of the notes.