other_material
confidence high
sentiment positive
materiality 0.90
Ramaco Resources prices upsized $200M public offering of Class A common stock for rare earth project
Ramaco Resources, Inc.
- Company priced upsized offering of 10,666,667 shares at $18.75 per share, with gross proceeds $200 million.
- Net proceeds expected ~$188.1 million to fund acceleration of rare earth elements and critical minerals project.
- Yorktown selling stockholders granted underwriters 30-day option to purchase additional $30 million of Class A common stock.
- Company amended credit agreement via Fourth Amendment to remove negative covenants on equity issuance.
- Lead underwriters are Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC.
item 1.01item 8.01item 9.01