US-based mining company Ramaco Resources has successfully closed an underwritten public offering of its Class A common stock, raising approximately US$200 million before underwriting discounts and other expenses.
The company sold slightly more than 10.6 million shares at US$18.75 per share.
Additionally, the selling stockholders, Yorktown Energy Partners, granted underwriters an option to purchase up to US$30 million in additional shares, which was fully exercised on August 6, 2025.
However, Ramaco will not receive financial proceeds from the sale of those additional shares.
Morgan Stanley and Goldman Sachs acted as lead joint book-running managers for the offering, with ArentFox Schiff and Davis Polk & Wardwell providing legal counsel to Ramaco and the underwriters, respectively.
The raised capital will primarily be deployed to accelerate the development of Ramaco’s rare earth elements (REEs) and critical minerals project, along with funding strategic growth initiatives and general corporate purposes.
Central to Ramaco’s project is its Brook rare earths mine located in Wyoming, which has been identified by federal and independent researchers as a potentially “world-class” discovery of critical and magnetic rare earth elements.
The mine has commenced full-scale mining operations.
This deposit is unique because the REEs are interspersed with coal and surrounding clay and shale layers, which are less dense compared to typical hard rock deposits seen in other rare earth mining operations.
Ramaco plans to build a pilot processing facility for rare earth oxides within the current year.
Initially, the project focuses on integrating mining and commercial oxide production vertically.
Looking ahead, Ramaco aims to develop downstream processes to manufacture end-use products such as metals, magnets, and semiconductor wafers, adding value beyond raw element extraction.
These critical materials produced from Ramaco’s project have applications in advanced military technologies, batteries, medical devices, and other high-tech fields, underscoring the strategic importance of developing a domestic supply chain for rare earths in the US.
This successfully completed public offering positions Ramaco Resources to expedite its rare earth project development while exploring broader strategic opportunities to expand its footprint in critical mineral supply chains.
