Ramaco Resources (METC) IPO Prices at $13.50, Middle of Range

Ramaco Resources, Inc. (NASDAQ: METC) announced today the pricing of its initial public offering of 6,000,000 shares of its common stock at $13.50 per share, the middle of the expected $12-$15 range. Ramaco is offering 3,800,000 shares of its common stock and the selling stockholders named in the registration statement on Form S-1 filed previously with the Securities and Exchange Commission (the “SEC”) are offering 2,200,000 shares of Ramaco’s common stock. The shares are expected to begin trading on The NASDAQ Stock Market LLC under the ticker symbol “METC” on February 3, 2017. In addition, certain of the Selling Stockholders have granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of Ramaco’s common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on February 8, 2017, subject to customary closing conditions.

Ramaco intends to use a portion of the approximately $43.7 million of net proceeds it will receive from this offering to pay in full the four-year promissory note held by Ramaco, LLC, an entity controlled by certain of Ramaco’s existing owners. Ramaco has not yet allocated the remainder of the net proceeds to a specific purpose, but has identified a number of projects to which it anticipates allocating such proceeds. Ramaco will not receive any of the proceeds from the sale of shares of Ramaco’s common stock by the Selling Stockholders.

Credit Suisse Securities (USA) LLC, Jefferies LLC and BMO Capital Markets Corp. are acting as joint book-running managers and as representatives of the underwriters for the offering. Clarksons Platou Securities, Inc. and Seaport Global Securities LLC are also acting as joint book-running managers for the offering.

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