Warrior Met Coal, a metallurgical coal producer and exporter with 7 million tons of operating capacity, filed on Tuesday with the SEC for a $100 million initial public offering, although we estimate the offering could be as much as $300 million. Existing shareholders will offer the entire deal.
The Brookwood, AL-based company was founded in 2015 and booked $369 million in sales for the 12 months ended December 31, 2016. It plans to list on the NYSE under the symbol HCC. Warrior Met Coal filed confidentially on January 30, 2017. Credit Suisse, Citi, Morgan Stanley, BMO Capital Markets and RBC Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
