US-based miner Ramaco Resources has completed its underwritten public offering of class A common stock, raising approximately $200m.
The offering featured the sale of more than ten million shares at $18.75 each, before deductions for underwriting discounts, commissions and expenses.
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The company will use the funds to expedite the development of its rare earth elements (REEs) and critical minerals project, alongside strategic growth opportunities and general corporate purposes.
Yorktown Energy Partners, the selling stockholders, provided underwriters with an option to purchase additional shares worth up to $30m. This option was fully exercised on 6 August 2025. However, Ramaco Resources will not benefit financially from the sale of these additional shares.
Morgan Stanley and Goldman Sachs served as the lead joint book-running managers for the offering.
Legal expertise was provided by ArentFox Schiff for Ramaco Resources and Davis Polk & Wardwell for the underwriters.
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By GlobalDataThe critical materials are used for advanced military technology, batteries, medical devices and a host of other applications.
The company’s Brook rare earths mine in Wyoming has been recognised by federal and independent researchers as a potentially “world-class” discovery of essential elements. With full-scale mining already in progress, plans are also in place to commence the construction of a pilot processing oxide facility within the year.
Initially, the mine will concentrate on the vertically integrated production of commercial oxides. In the long term, it aims to explore the potential for end-use manufacturing, transforming these oxides into metals, magnets, or semiconductor wafers.
The REEs present at the Brook Mine are intermingled with coal, as well as associated clay and shale layers, which are considerably less dense than the materials typically found in conventional hard rock deposits.
