Ramaco Resources prices $57 million senior notes offering at 8.25%

Ramaco Resources Inc. (NASDAQ: METC) announced it has priced a public offering of senior unsecured notes due 2030, raising approximately $57 million in gross proceeds before commissions and expenses.

The notes will mature on July 31, 2030, and carry an interest rate of 8.250% per year, with quarterly interest payments beginning October 30, 2025. The company may redeem the notes in whole or in part starting July 31, 2027, at 100% of principal amount plus accrued interest.

Underwriters have a 30-day option to purchase an additional $8 million in notes, which would bring total gross proceeds to approximately $65 million. The notes will be issued in minimum denominations of $25 and trading multiples thereof. The offering is expected to close July 31, 2025.

Ramaco Resources plans to use net proceeds to redeem all outstanding 9.00% Senior Notes Due 2026 and for general corporate purposes, including funding rare earth development acceleration, future investments, capital expenditures and working capital.

The company has applied to list the notes on the Nasdaq Global Select Market under the symbol "METCI," with trading expected to commence within 30 business days after issuance if approved.

Lucid Capital Markets LLC serves as lead bookrunner for the offering, with B. Riley Securities Inc., Janney Montgomery Scott LLC, Piper Sandler & Co., and William Blair & Company L.L.C. acting as joint book-running managers.

The coal mining company operates metallurgical coal facilities in southern West Virginia and southwestern Virginia, with developing operations in Wyoming focused on coal, rare earth and critical minerals production.

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