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Ramaco Resources, Inc. (NASDAQ:METC) ("Ramaco") today announced the pricing of its public offering of $300,000,000 aggregate principal amount of 0% convertible senior notes due 2031 (the "notes"). The issuance and sale of the notes are scheduled to settle on November 7, 2025, subject to customary closing conditions. Ramaco also granted the underwriters of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $45,000,000 aggregate principal amount of notes solely to cover over-allotments.
Ramaco estimates that the net proceeds from the offering of the notes will be approximately $290.9 million (or approximately $334.7 million if the underwriters fully exercise their over-allotment option), after deducting the underwriting discounts and commissions and Ramaco's estimated offering expenses. Ramaco intends to use approximately $28.5 million (or approximately $32.8 million if the underwriters fully exercise their over-allotment option) of the net proceeds from the offering of the notes to fund the cost of entering into capped call transactions described below. Ramaco intends to use the balance of the net proceeds to fund the development of its rare earth elements and critical minerals project, for strategic growth opportunities and for general corporate purposes.
Posted In: METC
