Yorktown Energy Partners IX, L.P. Distributes Five Hundred Thousand Shares of Ramaco Resources, Inc. Common Stock
LEXINGTON, Ky., May 30, 2019 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC) ("Ramaco" or the "Company") announced that it was notified today by Yorktown Energy Partners IX, L.P. ("Yorktown IX") that, in the normal course of its partnership business, Yorktown IX made an in-kind distribution of 500,000 shares of Ramaco common stock (1.2% of the total outstanding shares) to its general and limited partners after close of the stock market on May 29, 2019.
Ramaco was further advised by Yorktown IX that, pursuant to its partnership agreement, the distributed shares would be permitted to be sold immediately. Ramaco has not independently confirmed whether any such shares have been sold.
After this distribution, Yorktown IX continues to hold 11,471,525 shares of Ramaco common stock (28.1% of the total outstanding shares). Also, Yorktown Energy Partners X, L.P. continues to hold 3,692,881 shares (9.0% of the total outstanding shares), and Yorktown Energy Partners XI, L.P. continues to hold 5,587,128 shares (13.7% of the total outstanding shares) of Ramaco common stock. In total, and after taking into account the distribution by Yorktown IX, the aforementioned Yorktown funds will continue to collectively hold 50.8% of the Company.
Ramaco has been advised by Yorktown that it's funds may elect to make similar in-kind stock distributions in the future in the normal course of their respective 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.
POINT OF CONTACT:
Brandy Pennington, Director of SEC and Financial Reporting
SOURCE Ramaco Resources