Ramaco Resources, Inc. (NASDAQ: METC), a metallurgical coal producer with a market capitalization of $1.04 billion, announced Thursday the closing of its public offering of senior unsecured notes due in 2030, raising approximately $57 million in gross proceeds. According to InvestingPro data, the company currently operates with a moderate debt level of $125.17 million. The notes, which will mature on July 31, 2030, carry an interest rate of 8.250% per year, payable quarterly beginning October 30, 2025. Ramaco may redeem the notes in whole or in part on or after July 31, 2027, at 100% of the principal amount plus accrued interest. The notes received a 'BBB-' rating from Egan-Jones Ratings Company. While the company maintains a healthy current ratio of 1.32, analysts have recently revised earnings expectations downward for the upcoming period. The company's statement indicates that proceeds will be used to redeem all outstanding 9.00% Senior Notes due in 2026, with $34.5 million currently outstanding, and for general corporate purposes including rare earth development, future investments, capital expenditures, and working capital. Ramaco has applied to list the notes on the Nasdaq Global Select Market under the symbol 'METCI,' with trading expected to commence within 30 business days after issuance if approved. Lucid Capital Markets, LLC served as lead bookrunner for the offering, with B. Riley Securities, Janney Montgomery Scott, Piper Sandler, and William Blair acting as joint book-running managers. Ramaco Resources operates metallurgical coal mining complexes in Central Appalachia and is developing coal and rare earth mining operations near Sheridan, Wyoming. With annual revenue of $628.27 million, the company has shown strong market performance with a 119.82% return over the past six months.

Ramaco Resources closes $57 million senior unsecured notes offering

Ramaco Resources, a metallurgical coal producer with a $1.04 billion market cap, closed a $57 million senior unsecured notes offering due in 2030. The notes carry an 8.25% interest rate, with proceeds to be used for redeeming existing debt and funding rare earth development. The notes received a 'BBB-' rating and are set to trade on Nasdaq under 'METCI'.