UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): March 23, 2020

 

Rhino Resource Partners LP
(Exact name of registrant as specified in its charter)

 

Delaware   001-34892   27-2377517

(State or other jurisdiction

of incorporation or organization)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

424 Lewis Hargett Circle, Suite 250
Lexington, Kentucky 40503
(Address of principal executive office) (Zip Code)

 

(859) 389-6500
(Registrants’ telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company [  ]

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [  ]

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
None    None    None 

 

 

 

 
 

 

Item 8.01 Other Events

 

As disclosed in the Form 10-K filed by Rhino Resource Partners LP (the “Partnership”) on March 27, 2020, beginning in the later part of the third quarter of 2019, the Partnership has experienced significantly weaker market demand and have seen prices move lower for the qualities of met and steam coal that it produces. This downward price trend has been exacerbated by the recent coronavirus pandemic. In response to this reduced demand and to the significant health threats to its employees, on March 20, 2020, the Partnership idled production at several of its mines. The significant decreases in demand and coal prices and the Partnership’s inability to borrow further under its Financing Agreement, dated December 27, 2017 (as amended, the “Financing Agreement”), have placed severe constraints on its liquidity.

 

The Partnership is currently undergoing a restructuring evaluation process to address its liquidity issues. It is actively engaged in discussions with the lenders under its Financing Agreement regarding restructuring options, including potential asset sales or other potential solutions to its liquidity needs. On March 23, 2020, the Partnership engaged legal and financial advisors to assist it in evaluating its strategic options.

 

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

  RHINO RESOURCE PARTNERS LP
     
  By: Rhino GP LLC
    its General Partner
     
Dated: March 27, 2020 By: /s/ Whitney C. Kegley
    Whitney C. Kegley
    Vice President, Secretary and General Counsel