AFS Represents Ramaco Resources, Inc. in Two Multi-Million Dollar Public Offerings
ArentFox Schiff advised Ramaco Resources, Inc., an operator and developer of high-quality, low-cost metallurgical coal and a developing producer of coal, rare earth, and critical minerals, in two public offerings totaling $265 million.
The first public offering regarded senior unsecured notes due 2030. The baby bond resulted in gross proceeds to the Company of $65 million. The deal closed on July 31.
The second offering involved the public offering and sale of 10,666,667 shares of Class A common stock, which resulted in gross proceeds to the Company of $200 million. The equity offering was underwritten by Morgan Stanley and Goldman Sachs. Ramaco will use the funds to expedite development of a rare earth elements and critical minerals project, alongside strategic growth opportunities and general corporate purposes. The deal closed on August 7.
The AFS team was led by Ralph De Martino and included Jonathan Bagg, Johnathan Duncan, Cavas Pavri, Ryan Oechsler, Susan Ciallella, Gio Singh, Marina Phillips, and Jeff Kennedy.
Read press on the deals below.
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