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Yorktown Energy Partners distributes 500,000 Ramaco shares to partners

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Yorktown Energy Partners distributes 500,000 Ramaco shares to partners

Yorktown Energy Partners IX LP made an in-kind distribution of 500,000 shares of Ramaco Resources Inc.'s common stock to its general and limited partners after the market closed on May 29.

The firm also told Ramaco that the distributed shares, about 1.2% of the outstanding total, could be sold immediately under its partnership agreement, but Ramaco had not confirmed whether any had been sold, according to a May 30 release.

After the distribution, Yorktown IX holds 11,471,525 Ramaco shares, or about 28.1% of its total outstanding shares. Yorktown Energy Partners X LP holds 3,692,881 shares, or 9.0%, and Yorktown Energy Partners XI LP holds 5,587,128 shares, or 13.7%. All told, those Yorktown funds hold 50.8% of the company following the distribution.

Yorktown also told Ramaco that its funds may make similar distributions down the line. It made an in-kind distribution of 1 million shares of the coal producer in late March, bringing the combined Yorktown ownership to 52%.

Yorktown Energy Partners IX is a fund managed by Yorktown Partners LLC.