Each one in plain English, with the numbers worked through for a shareholder.
16 Jan 2026asset acquisition disposition▲ GoodMajor
Two Warrior Met Coal subsidiaries won federal coal leases from the Bureau of Land Management covering 8,346 and 5,704 acres adjacent to Mine No. 1 and Mine No. 4, adding an estimated 53.2 million tons of recoverable coal reserves for roughly $47 million in bid payments spread over five years; mining plan approval followed in January 2026, clearing the leases for development.
The company expanded its revolving credit facility by $27 million to $143 million and pushed its maturity out to 2030, a sign of continued lender confidence.
The company amended its shareholder rights plan (poison pill), extending its expiration to April 2026 and raising the trigger exercise price from $31 to $56 per share to keep pace with the stock's rise.
Warrior Met Coal refinanced its 2017-2018 notes: it issued $350 million of new 7.875% senior secured notes due 2028 and used the proceeds to redeem all $475 million of the older 8.00% notes due 2024, while also entering a second amended-and-restated revolving credit facility - locking in lower-cost debt with a longer runway during a strong coal market.
As a COVID-19 precaution, Warrior Met Coal drew $70 million against its revolving credit facility to bolster cash on hand and preserve financial flexibility amid pandemic-driven uncertainty.
The company made a technical amendment to its revolving credit agreement, conforming its financial-covenant definitions to the bond indenture and adding standard derivatives-regulation language.
Warrior Met Coal amended and restated its asset-based revolving credit facility, raising the available commitment by $25 million to $125 million, extending maturity to 2023, and lowering interest margins.
The same selling shareholders sold a further 2.2 million shares in a second underwritten secondary offering at $25.40/share, again with no proceeds to the company.
Pre-restructuring shareholders sold 5 million Warrior Met Coal shares in an underwritten secondary offering at $28.35/share; the company received none of the proceeds.
The company tapped its notes for a further $125 million (issued at a premium, fungible with the 2017 notes) to fund up to another $350 million in special dividends, and paid a $3.5 million consent fee to bondholders to loosen the dividend-payment covenant.
Warrior Met Coal issued $350 million of 8.00% senior secured notes due 2024 and used the proceeds, plus cash on hand, to fund a $600 million special dividend ($11.21/share) - a major post-restructuring return of capital funded largely by new debt.
Warrior Met Coal amended its asset-based credit agreement to permit up to $500 million of additional secured or unsecured debt, clearing the way for a larger financing move.