Ramaco Resources prices $200 million stock offering at $18.75 per share

Ramaco Resources Inc. (NASDAQ: METC) announced the pricing of an underwritten public offering of 10.67 million shares of Class A common stock at $18.75 per share. The coal and minerals company expects to receive approximately $200 million in gross proceeds before deducting underwriting fees and expenses.

The offering was increased from its original size, according to the company's statement. Yorktown Energy Partners, a selling stockholder, granted underwriters a 30-day option to purchase up to an additional $30 million worth of shares at the offering price.

Ramaco Resources stated it intends to use net proceeds to accelerate development of its rare earth elements and critical minerals project, pursue strategic growth opportunities, and fund general corporate purposes. The company will not receive proceeds from any shares sold by Yorktown if the underwriters exercise their option.

Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC serve as lead joint book-running managers for the offering. The transaction is expected to close on August 7, 2025, subject to customary closing conditions.

The company operates metallurgical coal mines in southern West Virginia and southwestern Virginia, along with a developing rare earth and coal operation in Wyoming. In 2023, Ramaco Resources announced the discovery of rare earth and critical mineral deposits at its Wyoming mine location.

A shelf registration statement for the securities was filed with the Securities and Exchange Commission and became effective upon filing on August 5, 2025.

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