Rare Earths Americas, an exploration-stage rare earths mining company with projects in Brazil and the US, announced terms for its IPO on Tuesday.
The Manchester, GA-based company plans to raise $50 million by offering 2.8 million shares at a price range of $17 to $19.
Rare Earths Americas is an exploration-stage critical miners company with a portfolio of three material projects: the Shiloh Project in Georgia, and the Alpha and Constellation Projects in Brazil. The projects are all focused on heavy rare earth elements including neodymium-praseodymium, dysprosium, and terbium, which are used primarily in high-performance permanent magnets. The Brazilian assets are ionic adsorption clay deposits, while the Shiloh Project is centered on monazite-bearing mineralization. The company has yet to generate revenue, and its current activities consist of exploration, resource definition, and metallurgical test work.
Rare Earths Americas was founded in 2021. It plans to list on the NYSE American under the symbol REA. Cantor Fitzgerald, Stifel, Canaccord Genuity, and B. Riley Securities are the joint bookrunners on the deal.
