Yorktown Energy Partners Distributes One-Million Shares of Ramaco Resources, Inc. Common Stock
LEXINGTON, Ky., March 26, 2019 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC) ("Ramaco" or the "Company") today announced that Yorktown Energy Partners Fund IX, L.P. ("Yorktown IX") notified Ramaco today that, in the normal course of its partnership business, it made an in-kind distribution of 1,000,000 shares of Ramaco common stock (2.4% of the total outstanding shares) to its general and limited partners after the close of the stock market on March 25, 2019. After the distribution, Yorktown IX continues to hold 11,971,525 shares of Ramaco common stock (29.3% of the total outstanding shares). In August 2018, Yorktown IX previously made two distributions totaling 1,800,000 shares of Ramaco common stock in the normal course of business to its general and limited partners. Ramaco was further advised by Yorktown IX that, pursuant to the Yorktown partnership agreements, the distributed shares would be permitted to be sold immediately. Ramaco has not independently confirmed whether any such shares have been sold.
Yorktown Energy Partners Fund X, L.P. continues to own 3,692,881 shares of Ramaco common stock (9.0% of the total outstanding shares), and Yorktown Energy Partners Fund XI, L.P. continues to own 5,587,128 shares (13.7% of the total outstanding shares) of Ramaco common stock. In total, after taking into account yesterday's distribution by Yorktown IX, all of the aforementioned Yorktown funds collectively own 52.0% of the Company.
Ramaco has been advised that Yorktown partnerships may make further similar in-kind stock distributions in the future in the normal course of its partnership business.
About Ramaco Resources, Inc.
Ramaco Resources, Inc. is an operator and developer of high-quality, low cost metallurgical coal in southern West Virginia, southwestern Virginia and southwestern Pennsylvania. Its executive offices are in Lexington, Kentucky, with operational offices in Charleston, West Virginia. The Company has five active mines within two mining complexes at this time.
News and additional information about Ramaco Resources, including filings with the Securities and Exchange Commission, are available at http://www.ramacoresources.com. For more information, contact investor relations at (859) 244-7455.
Director of SEC and Financial Reporting
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SOURCE Ramaco Resources