LEXINGTON, Ky., Nov. 20,
2024 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ:
METC, METCB, METCL) ("Ramaco Resources" or the "Company"), an
operator and developer of high-quality, low-cost metallurgical coal
in Central Appalachia and future
developer of rare earth and critical minerals in Wyoming, announced today that it plans to
offer senior unsecured notes due 2029 (the "Notes") in a registered
underwritten public offering (the "Offering"). The Company intends
to use the net proceeds from the Offering for general corporate
purposes, including funding future investments, making capital
expenditures and funding working capital. The Notes will be issued
in minimum denominations of $25.00
and integral multiples of $25.00 in
excess thereof.
In connection with the Offering, the Company has applied to list
the Notes on the Nasdaq Global Select Market (the "Nasdaq") under
the symbol "METCZ." If approved for listing, trading on Nasdaq is
expected to commence within 30 days after the Notes are first
issued.
Lucid Capital Markets, LLC will act as lead bookrunner for the
Offering. B. Riley Securities, Inc., Janney Montgomery Scott LLC
and Piper Sandler & Co. will act
as joint book-running managers for the Offering. The Benchmark
Company, LLC, InspereX LLC, TCBI Securities, Inc., doing business
as Texas Capital Securities, and William
Blair & Company, L.L.C. will act as lead managers for
the Offering.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the Notes described herein, nor
shall there be any sale of the Notes in any state or other
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. This Offering is being
made by the Company pursuant to a registration statement on Form
S-3 (File No. 333-274324), which was declared effective by the
United States Securities and Exchange Commission ("SEC") on
September 29, 2023. The Notes may
only be offered by means of a prospectus and prospectus supplement
that meet the requirements under the Securities Act of 1933, as
amended. A copy of the registration statement is available on the
SEC's website at www.sec.gov. Copies of the preliminary prospectus
supplement related to the Offering and accompanying base prospectus
and final prospectus supplement, when available, may be obtained by
contacting Lucid Capital Markets, LLC at 570 Lexington Ave, 40th
Floor, New York, NY 10022 at
telephone number (646)-362-0256, or via email at:
Prospectus@lucidcm.com.
ABOUT RAMACO RESOURCES
Ramaco Resources, Inc. is an operator and developer of
high-quality, low-cost metallurgical coal in southern West Virginia, and southwestern Virginia and a developing producer of rare
earth and critical minerals in Wyoming. Its executive offices are in
Lexington, Kentucky, with
operational offices in Charleston, West
Virginia and Sheridan,
Wyoming. The Company currently has four active metallurgical
coal mining complexes in Central
Appalachia and one development rare earth and coal mine near
Sheridan, Wyoming in the initial
stages of production. News and additional information about Ramaco
Resources, including filings with the Securities and Exchange
Commission, are available at http://www.ramacoresources.com. For
more information, contact investor relations at (859) 244-7455.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
Certain statements contained in this press release constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements represent Ramaco Resources' expectations or beliefs
concerning guidance, future events, anticipated revenue, future
demand and production levels, macroeconomic trends, the development
of ongoing projects, costs and expectations regarding operating
results, and it is possible that the results described in this
press release will not be achieved. Forward-looking statements in
this press release include, without limitation, the timing for
closing of the Offering (if at all) and the expected use of
proceeds from the Offering. These statements relate to future
events, future expectations, plans and prospects. These
forward-looking statements are subject to risks, uncertainties and
other factors, many of which are outside of Ramaco Resources'
control, which could cause actual results to differ materially from
the results discussed in the forward-looking statements. These
factors include, without limitation, unexpected delays in our
current mine development activities, the ability to successfully
ramp up production at our complexes in accordance with the
Company's growth initiatives, failure of our sales commitment
counterparties to perform, increased government regulation of coal
in the United States or
internationally, the further decline of demand for coal in export
markets and underperformance of the railroads, the expected
benefits of the Ramaco Coal and Maben acquisitions to the Company's
shareholders, the anticipated benefits and impacts of the Ramaco
Coal and Maben acquisitions, and
the Company's ability to successfully develop the Brook Mine,
including whether the increase in the Company's exploration target
and estimates for such mine are realized. Any forward-looking
statement speaks only as of the date on which it is made, and,
except as required by law, Ramaco Resources does not undertake any
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise.
New factors emerge from time to time, and it is not possible for
Ramaco Resources to predict all such factors. When considering
these forward-looking statements, you should keep in mind the risk
factors and other cautionary statements found in Ramaco Resources'
filings with the SEC, including its Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q. The risk factors and other factors
noted in Ramaco Resources' SEC filings could cause its actual
results to differ materially from those contained in any
forward-looking statement.
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SOURCE Ramaco Resources, Inc.