05:15 AM EST, 11/22/2024 (MT Newswires) -- Ramaco Resources ( METCB ) said late Thursday it priced a public offering of $50 million of 8.375% senior unsecured notes due 2029.

The company granted the underwriters a 30-day option to buy up to an additional $7.5 million of the notes. The offering is expected to close on Nov. 27.

The company said it plans to use the net proceeds for general corporate purposes.

The expected gross proceeds will increase to $57.5 million if the underwriters exercise their option in full, Ramaco said.