Hedging Transactions
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RAMACO RESOURCES, INC. PRICES HEDGING TRANSACTION TO PLACE BORROWED CLASS A COMMON STOCK IN CONNECTION WITH CONVERTIBLE NOTES OFFERING
Prnewswire· 2025-11-05 12:04
Core Viewpoint - Ramaco Resources, Inc. has announced the pricing of a public offering of $300 million in 0% convertible senior notes due 2031, with net proceeds expected to be approximately $290.9 million, plus an additional $45 million for over-allotments [1][8]. Group 1: Offering Details - The offering consists of $300 million aggregate principal amount of convertible senior notes, with total net proceeds of approximately $290.9 million [1]. - The underwriters have the option to purchase up to an additional $45 million in notes to cover over-allotments [1]. - No new shares of Class A common stock will be issued in this offering, and Ramaco will not receive any proceeds from the concurrent delta offering [1]. Group 2: Concurrent Delta Offering - Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC will offer shares of Class A common stock borrowed from third parties to facilitate hedging transactions for purchasers of the notes [2]. - The initial offering price for the Class A common stock is set at $24.25 per share, with subsequent sales occurring at prevailing market prices [2]. - The concurrent delta offering is scheduled to settle on November 7, 2025, and is contingent upon the completion of the notes offering [2]. Group 3: Company Overview - Ramaco Resources, Inc. operates and develops metallurgical coal in southern West Virginia and southwestern Virginia, and is also involved in producing coal, rare earth elements, and critical minerals in Wyoming [4]. - The company has four active metallurgical coal mining complexes in Central Appalachia and is developing a rare earth and coal mine near Sheridan, Wyoming [4].
RAMACO RESOURCES, INC. ANNOUNCES PROPOSED OFFERING OF BORROWED CLASS A COMMON STOCK TO FACILITATE HEDGING TRANSACTIONS
Prnewswire· 2025-11-04 22:07
Core Points - Ramaco Resources, Inc. plans to offer $300 million in convertible senior notes due 2031, with an option for underwriters to purchase an additional $45 million for over-allotments [1][2] - Concurrently, Goldman Sachs and Morgan Stanley will facilitate a separate offering of Ramaco's Class A common stock to hedge transactions related to the notes offering [2][3] - The completion of both offerings is interdependent, meaning the notes offering is contingent on the successful completion of the concurrent stock offering [2][3] Company Overview - Ramaco Resources, Inc. operates and develops metallurgical coal in southern West Virginia and southwestern Virginia, and is also involved in producing coal, rare earth elements, and critical minerals in Wyoming [4] - The company has four active metallurgical coal mining complexes in Central Appalachia and is in the initial stages of production for a rare earth and coal mine near Sheridan, Wyoming [4]