IPO Newsroom@IPONewsroom_
JUST IN: RARE EARTHS AMERICAS HAS SET TERMS FOR ITS IPO
The exploration-stage mining company plans to raise $50 million by offering 2.8 million shares at $17 to $19 each.
It will list on the NYSE American under the ticker $REA.
The business:
- Founded in 2021, headquartered in Manchester, Georgia
- Three exploration projects focused on heavy rare earth elements (neodymium-praseodymium, dysprosium, terbium)
- Shiloh Project in Georgia is centered on monazite-bearing mineralization
- Alpha and Constellation Projects in Brazil are ionic adsorption clay deposits
- Rare earth elements are used primarily in high-performance permanent magnets
- Has not yet generated revenue, current activities consist of exploration, resource definition, and metallurgical test work
Joint bookrunners: Cantor Fitzgerald, Stifel, Canaccord Genuity, B. Riley Securities.
