Warrior Met Coal, a metallurgical coal producer and exporter with 7 million tons of operating capacity, announced terms for its IPO on Monday.
The Brookwood, AL-based company plans to raise $300 million by offering 16.7 million shares (100% insider) at a price range of $17 to $19. At the midpoint of the proposed range, Warrior Met Coal would command a market value of $963 million.
Warrior Met Coal 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. Credit Suisse, Citi, Morgan Stanley, BMO Capital Markets and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of April 10, 2017.
