Rare Earths Americas Prices Upsized $63.3 Million Initial Public Offering
MT Newswires Live
May 06
Rare Earths Americas (REA) has priced an upsized initial public offering of 3,333,331 common shares at $19 apiece for about $63.3 million in expected gross proceeds, the critical minerals company said late Tuesday.
IPO underwriters have a 30-day overallotment option to purchase up to 499,999 additional shares.
The company plans to use the net proceeds to fund land acquisition and option payments, among other things.
Rare Earths Americas said it expects its shares to start trading on the NYSE American Wednesday under the ticker symbol REA, while the IPO is expected to close by Thursday.
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