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May 8, 2018, 8:37 a.m. EDT

UPDATE: Warrior Met Coal stock slides 7% premarket on news of 8 million-share secondary offering

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By Ciara Linnane

Warrior Met Coal Inc. /zigman2/quotes/208793752/composite HCC -0.38% said Tuesday that some of its existing shareholders are planning to offer 8 million of the company's shares in a secondary offering underwritten by Credit Suisse. The company said it is planning to repurchase 500,000 of those shares as part of a previously-announced share buyback program. The selling shareholders will receive all of the proceeds of the secondary offering. Warrior Met Coal is a producer of hard coking coal that went public in April, 2017. Shares tumbled 7% in premarket trade, but have gained 53% in the last 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.85% has gained 11%.

/zigman2/quotes/208793752/composite
US : U.S.: NYSE
$ 37.80
-0.15 -0.38%
Volume: 17,743
Feb. 2, 2023 9:50a
P/E Ratio
2.89
Dividend Yield
0.63%
Market Cap
$1.96 billion
Rev. per Employee
$2.57M
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/zigman2/quotes/210599714/realtime
US : S&P US
4,154.27
+35.06 +0.85%
Volume: 0.00
Feb. 2, 2023 9:51a
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