Ramaco Resources, a U.S.-based mining company, has completed its underwritten public offering of Class A common stock, securing approximately $200 million in gross proceeds. The offering involved the sale of over 10 million shares at a price of $18.75 per share, prior to deductions for underwriting discounts, commissions, and other expenses.

Ramaco Resources will use the funds to expedite the development of its REEs and critical minerals project.

The company stated that the capital raised will support the accelerated development of its rare earth elements (REEs) and critical minerals project, in addition to funding strategic growth initiatives and general corporate purposes.

Yorktown Energy Partners, the selling stockholders, granted the underwriters an option to purchase additional shares valued at up to $30 million. This option was fully exercised on August 6, 2025. However, Ramaco Resources will not receive any proceeds from the sale of these additional shares.

Morgan Stanley and Goldman Sachs acted as the lead joint book-running managers for the offering. Ramaco Resources received legal counsel from ArentFox Schiff, while Davis Polk & Wardwell advised the underwriters.

The company's REE operations focus on materials that are essential for a variety of applications, including advanced defense systems, battery technologies, medical equipment, and other high-tech industries.

Ramaco’s flagship project, the Brook Mine in Wyoming, has been identified by federal and independent studies as a potentially “world-class” source of rare earth elements. Full-scale mining operations are currently underway at the site. Within the year, the company also plans to begin construction of a pilot facility for processing rare earth oxides.

In the early phase, Ramaco will concentrate on the vertically integrated production of commercial-grade oxides. Looking ahead, the company is exploring the potential for downstream manufacturing, which may involve converting oxides into finished products such as metals, magnets, or semiconductor wafers.

The rare earth deposits at the Brook Mine are found in coal seams and adjacent layers of clay and shale. These host materials are generally less dense and easier to process compared to traditional hard rock formations, offering potential advantages in extraction and processing efficiency.

Ramaco Resources continues to position itself as a key player in the domestic supply of critical materials. The completion of this public offering marks a step forward in the company’s strategy to expand its presence in the critical minerals sector and support the development of a secure and sustainable resource supply chain.