Ramaco's Free Public Stock Float Increases From 34% to 50%
On March 25, 2022, Ramaco Resources, Inc. (NASDAQ: METC) announced the completion of a distribution of approximately 5.5 million shares of its common stock by Energy Capital Partners (ECP) and 1.35 million shares by Yorktown Energy Partners IX, L.P. This increase in share distribution has raised the public float from 34% to 50%. Randall Atkins, Chairman and CEO, expressed that the increased float signifies a positive long-term evolution for the Company, reducing institutional control while enhancing trading availability. Ramaco specializes in developing high-quality metallurgical coal.
- Public float increased from 34% to 50%, enhancing trading liquidity.
- Reduces previous institutional control, aligning with investor feedback.
- None.
LEXINGTON, Ky., March 25, 2022 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC) ("Ramaco," the "Company" or "we") announced that it was notified by Energy Capital Partners Mezzanine Opportunities Fund, LP, Energy Capital Partners Mezzanine Opportunities Fund A, LP and ECP Mezzanine B (Ramaco IP), LP (collectively, "ECP") that yesterday ECP filed a Form 4 with the Securities and Exchange Commission stating it has now completed its distribution of approximately 5.5 million shares of common stock, par value
We have also been advised that Yorktown Energy Partners IX, L.P. ("Yorktown") made a distribution of approximately 1.35 million shares of Common Stock owned by various Yorktown partnerships on March 3, 2022 to their limited partners.
As a result of the distributions referenced above, the free float of our Common Stock has now effectively increased from
Randall Atkins, Ramaco's Chairman and Chief Executive Officer noted that "Since we became public just over five years ago, we have received frequent investor comment that the amount of our stock publicly available to trade was constrained by the large majority institutional ownership of our original private equity sponsors. Both funds invested into the Company before our original public offering from legacy funds which are now in the process of making end of fund limited partnership distributions. We view the distributions by both ECP and Yorktown as a positive long-term evolution for the Company. Ramaco is both increasing our overall public stock float, while reducing the previous institutional investor control positions.
We are grateful for the support, guidance, and investment which both funds made into Ramaco over the years. We are also gratified that we understand both groups have enjoyed a highly successful return on their investment. In the future, we look forward to all our shareholders enjoying their own investment success in our Company as we continue to profitably grow."
Ramaco is an operator and developer of high-quality, low-cost metallurgical coal in southern West Virginia, southwestern Virginia and southwestern Pennsylvania. For more information, visit www.ramacoresources.com.
POINT OF CONTACT:
INVESTOR RELATIONS: info@ramacocoal.com or 859-244-7455
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SOURCE Ramaco Resources, Inc.
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