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Ramaco Resources, Inc. Completes $34,500,000 Senior Unsecured Notes Offering
LEXINGTON, Ky., July 13, 2021 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC) ("Ramaco Resources" or the "Company") announced today the closing of its
About this update from Ramaco Resources, Inc.
[{"type":"text","content":"LEXINGTON, Ky., July 13, 2021 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC) (\"Ramaco Resources\" or the \"Company\") announced today the closing of its previously announced public offering (the \"Offering\") of senior unsecured notes due 2026 (the \"Notes\"). Due to strong demand, the size of the Offering has been increased from the previously announced $25.0 million aggregate principal amount to $30.0 million aggregate principal amount of Notes. On July 12, 2021, the underwriters exercised their option to purchase an additional $4.5 million aggregate principal amount of Notes. The Notes will mature on July 30, 2026, unless redeemed prior to maturity. The Notes will bear interest at a rate of 9.00% per year, payable in arrears on the 30th day of January, April, July and October of each year, commencing on July 30, 2021, and at maturity. The Company may redeem the Notes in whole or in part, at the Company's option, at any time on or after July 30, 2023 at a redemption price equal to 100% of the principal amount, plus accrued and unpaid interest to, but not including, the date of redemption. In addition, the Company may redeem the Notes, in whole, but not in part, at any time at the Company's option, at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest to, but not including, the date of redemption, upon the occurrence of certain change of control events.\nThe Company intends to use the net proceeds from the Offering for general corporate purposes, including funding future acquisitions and 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. \nIn connection with the Offering, the Company has applied to list the Notes on the NASDAQ Global Select Market (the \"NASDAQ\") under the symbol \"METCL.\" If approved for listing, trading on the NASDAQ is expected to commence within 30 days after the Notes are first issued.\nB. Riley Securities, Inc., Ladenburg Thalmann & Co. Inc., and William Blair & Company, L.L.C. will act as joint book-running managers for the Offering. Aegis Capital Corp., The Benchmark Company, LLC and B.C. Ziegler & Company will act as co-managers for the Offering.\nThis press release does not constitute an offer to sell or a solicitation of an...