Form 8-K - Current report

Warrior Met Coal, Inc.

Date: December 8, 2023

/s/ Dale W. Boyles

Dale W. Boyles

Chief Financial Officer

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 8, 2023

WARRIOR MET COAL, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware

001-38061

81-0706839

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

16243 Highway 216

Brookwood, Alabama

35444

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code: (205) 554-6150

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	HCC	New York Stock Exchange
Rights to Purchase Series A Junior Participating Preferred Stock, par value $0.01 per share	—	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01

Entry into a Material Definitive Agreement.

Amendment No.2 to Rights Agreement

On December 8, 2023, Warrior Met Coal, Inc., a Delaware corporation (the “Company”) and Computershare Trust Company, N.A., as Rights Agent (the “Rights Agent”), entered into an Amendment No. 2 (the “Second Amendment”) to the Company’s Rights Agreement, dated as of February 14, 2020, by and between the Company and the Rights Agent, as amended by that certain Amendment No. 1 (the “First Amendment”), dated as of March 4, 2022 (collectively, the “Amended Rights Agreement”). The Second Amendment increases the exercise price from $56.00 to $159.00.

The foregoing description of the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Second Amendment, a copy of which is attached hereto as Exhibit 4.1 and incorporated herein by reference. A copy of the Amended Rights Agreement and a summary of its material terms were filed with the Securities and Exchange Commission on Form 8-K on February 14, 2020, and on March 4, 2022 for the First Amendment, and such agreement and description are incorporated herein by reference.

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits.


Exhibit No.		Exhibit Description

4.1		Amendment No. 2 to Rights Agreement, dated as of December 8, 2023, between Warrior Met Coal, Inc. and Computershare Trust Company, N.A., as Rights Agent.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Exhibit 4.1

AMENDMENT NO. 2

RIGHTS AGREEMENT

This Amendment No. 2 (this “Second Amendment”) to the Rights Agreement (as defined below) is made and entered into as of December 8, 2023, by and between Warrior Met Coal, Inc., a Delaware corporation (the “Company”), and Computershare Trust Company, N.A., a federally chartered trust company, as Rights Agent (the “Rights Agent”). Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Rights Agreement.

RECITALS:

WHEREAS, the Company and the Rights Agent previously entered into that certain Rights Agreement, dated as of February 14, 2020, as amended on March 4, 2022 with the Rights Agent (the “Rights Agreement”);

WHEREAS, on December 7, 2023, the Board determined that it is in the best interests of the Company and its stockholders to amend the Rights Agreement on the terms set forth herein;

WHEREAS, pursuant to Section 26 of the Rights Agreement, so long as the Rights are still redeemable, the Company may, and the Rights Agent shall, if the Company so directs, supplement or amend any provision of the Rights Agreement in any respect in accordance with the provisions of such Section 26, and as of the date hereof, the Rights are redeemable; and

WHEREAS, pursuant to the terms of the Rights Agreement and in accordance with Section 26 thereof, the Company has directed that the Rights Agreement be amended as set forth in this Second Amendment;

AGREEMENT:

NOW, THEREFORE, in consideration of the above-referenced recitals, the mutual covenants and agreements contained in this Second Amendment, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree to amend the Rights Agreement as follows:

1. Sections. Section references herein shall refer to the applicable Section in the Rights Agreement.

2. Amendments.

2.1 Section 7.2, Exhibit B (Form of Right Certificate) and Exhibit C (Summary of Rights) of the Rights Agreement are hereby amended by deleting, in each applicable case, “$56.00” where it appears and replacing it with “$159.00.”

3. No Further Amendments. Except as expressly provided in this Second Amendment, all of the terms, covenants, agreements, and conditions of the Rights Agreement shall remain in full force and effect.

4. Counterparts. This Second Amendment may be signed in counterparts, each of which shall be an original and all of which together shall constitute one and the same instrument. A signature to this Second Amendment executed and/or transmitted electronically shall have the same authority, effect, and enforceability as an original signature.

5. Governing Law. This Second Amendment shall be governed by and construed in accordance with the internal laws of the State of Delaware, without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction).

6. Entire Agreement. The Rights Agreement as amended by this Second Amendment contains the entire agreement of the parties hereto with respect to the subject matter hereof and supersedes and is in full substitution for any and all prior oral or written agreements and understandings between them related to such subject matter, and neither party hereto shall be liable or bound to the other party hereto in any manner with respect to such subject matter by any covenants or agreements except as specifically set forth herein and in the Rights Agreement, as amended by this Second Amendment.

7. Effective Date; Certification. Upon the execution and delivery of a counterpart hereof by each of the parties hereto, this Second Amendment shall be deemed effective as of the date first written above (the “Second Amendment Effective Date”), as if executed on such date. The officer of the Company executing this Second Amendment hereby certifies to the Rights Agent that the amendments to the Rights Agreement set forth in this Second Amendment are in compliance with the terms of Section 26 of the Rights Agreement and the certification contained in this Section 7 shall constitute and satisfy the certification required by Section 26 of the Rights Agreement.

[Signature page follows]

IN WITNESS WHEREOF, the parties hereto have executed this Second Amendment as of the date first written above.


WARRIOR MET COAL, INC.

By:		/s/ Dale W. Boyles
Name:		Dale W. Boyles
Title:		Chief Financial Officer

COMPUTERSHARE TRUST COMPANY, N.A.

By:		/s/ Patrick Hayes
Name:		Patrick Hayes
Title:		Vice President & Manager Client Relations

Document and Entity Information	Dec. 08, 2023
Document And Entity Information [Line Items]
Amendment Flag	false
Entity Central Index Key	0001691303
Document Type	8-K
Document Period End Date	Dec. 08, 2023
Entity Registrant Name	WARRIOR MET COAL, INC.
Entity Incorporation State Country Code	DE
Entity File Number	001-38061
Entity Tax Identification Number	81-0706839
Entity Address, Address Line One	16243 Highway 216
Entity Address, City or Town	Brookwood
Entity Address, State or Province	AL
Entity Address, Postal Zip Code	35444
City Area Code	(205)
Local Phone Number	554-6150
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock [Member]
Document And Entity Information [Line Items]
Security 12b Title	Common Stock, par value $0.01 per share
Trading Symbol	HCC
Security Exchange Name	NYSE
Series A Preferred Stock [Member]
Document And Entity Information [Line Items]
Security 12b Title	Rights to Purchase Series A Junior Participating Preferred Stock, par value $0.01 per share
Trading Symbol	—
Security Exchange Name	NYSE