CONSOL Energy Completes Merger with Arch Resources, Inc.

On January 13, 2025, Core Natural Resources, Inc., formerly known as CONSOL Energy Inc., finalized its merger with Arch Resources, Inc. The merger, announced previously, was executed under the Agreement and Plan of Merger dated August 20, 2024. Mountain Range Merger Sub Inc., a subsidiary of Core, merged with Arch, with Arch continuing as a wholly owned subsidiary of Core.

As part of the merger, Core entered into Amendment No. 6, amending its existing Credit Agreement to increase its available revolving commitments from $355 million to $600 million. This amendment allows borrowings for general corporate purposes, including working capital and acquisitions. Alongside this, Arch terminated obligations under certain credit agreements.

The merger saw each share of Arch common stock converted into 1.326 shares of Core’s common stock. Core changed its name to “Core Natural Resources, Inc.” and its NYSE ticker symbol to “CNR.” Additionally, it appointed new directors and executives, and realigned its governance structure to integrate leaders from both companies.

In conjunction with the merger, Core significantly heightened its liquidity by expanding its prior revolving credit facility commitments and extending the maturity date to April 30, 2029. The new facility was oversubscribed, reflecting substantial lender support and enhancing the company’s financial flexibility.

The newly formed Core Natural Resources is projected to be a market leader with high-quality coal assets, well-established logistics capacities, and substantial revenue streams. The company anticipates considerable synergies, operational excellence, and solid financial performance. Detailed 2025 guidance is expected at the fourth-quarter earnings release.

The completion of this merger signifies a significant milestone for Core and sets the stage for the company to play a crucial role in providing essential resources for global infrastructure and energy needs while generating long-term value for stakeholders.

For further details regarding the financial transactions and the management changes brought about by this merger, refer to the complete 8-K filing details available on the SEC’s website.

For any investor-related inquiries, please contact Deck Slone at 314-994-2766. Media inquiries can be directed to Erica Fisher at 724-416-8292.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read CONSOL Energy’s 8K filing here.

About CONSOL Energy

CONSOL Energy Inc, together with its subsidiaries, produces and sells bituminous coal in the United States and internationally. It operates through two segments, Pennsylvania Mining Complex (PAMC) and CONSOL Marine Terminal. The company's PAMC segment engages in the mining, preparing, and marketing of bituminous coal to power generators, industrial end-users, and metallurgical end-users.