Ramaco Files Registration Statement Relating To Public Listing Of Class B Stock

(RTTNews) - Ramaco Resources, Inc. (METC) has submitted a registration statement on Form S-3 to the SEC relating to the proposed public listing of class B common stock. The public listing is expected to take place after the SEC completes its review process, including the requisite approval of the holders of the common stock at a stockholders' meeting. The company expects to complete the registration and distribution of the new class B common stock in the fourth quarter of 2022.

Ramaco Resources expects the class B common stock to receive a dividend, which will track and be based on the financial performance of a portion of the company's assets related to its coal infrastructure and royalties' revenue, carbon products and rare earth elements. In connection with the creation of the class B common stock, record holders of the common stock would receive shares of the class B common stock as a distribution. Each holder will receive 0.2 shares of class B common stock for every one share of existing common stock held on the record date.