RAMACO RESOURCES, INC. ANNOUNCES PRICING OF SENIOR UNSECURED NOTES OFFERING

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LEXINGTON, Ky., Nov. 21, 2024 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC, METCB, METCL) ("Ramaco Resources" or the "Company") announced today that it has priced its previously announced public offering (the "Offering") of senior unsecured notes due 2029 (the "Notes"). The Notes will mature on November 30, 2029, unless redeemed prior to maturity. The Notes will bear interest at a rate of 8.375% per year, payable in arrears on the 30th day of January, April, July and October of each year, commencing on January 30, 2025, and at maturity. The Company may redeem the Notes in whole or in part, at the Company's option, at any time on or after November 30, 2026, at a redemption price equal to 100% of the principal amount, plus accrued and unpaid interest to, but not including, the date of redemption. In addition, the Company may redeem the Notes, in whole, but not in part, at any time at the Company's option, at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest to, but not including, the date of redemption, upon the occurrence of certain change of control events.

The gross proceeds to the Company from the offering, before deducting commissions and expenses, will be approximately $50 million, or approximately $57.5 million if the underwriters exercise their option (described below) in full.

The Company intends to use the net proceeds from the Offering for general corporate purposes, including funding future investments, making capital expenditures and funding working capital. The Company has granted the underwriters a 30-day option to purchase up to an additional $7.5 million aggregate principal amount of Notes. The Notes will be issued in minimum denominations of $25.00 and integral multiples of $25.00 in excess thereof. The Offering is expected to close on November 27, 2024.

In connection with the Offering, the Company has applied to list the Notes on the Nasdaq Global Select Market (the "Nasdaq") under the symbol "METCZ." If approved for listing, trading on Nasdaq is expected to commence within 30 days after the Notes are first issued.

Lucid Capital Markets, LLC is acting as lead bookrunner for the Offering. B. Riley Securities, Inc., Janney Montgomery Scott LLC and Piper Sandler & Co. are acting as joint book-running managers for the Offering. The Benchmark Company, LLC, InspereX LLC, TCBI Securities, Inc., doing business as Texas Capital Securities, and William Blair & Company, L.L.C. are acting as lead managers for the Offering.

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