REalloys Raises $50M Through Sale of 2.7M Shares at $18.50
REalloys closed an upsized public offering of 2,702,702 shares at $18.50 apiece, raising approximately $50 million before expenses while granting underwriters a 30-day option for 396,963 additional shares. The company plans to deploy net proceeds for working capital and general corporate purposes across its mine-to-magnet supply chain.
1. Offering Details
On March 9, REalloys Inc. closed its upsized underwritten public offering of 2,702,702 common shares at $18.50 per share, generating gross proceeds of approximately $50 million. Underwriters received a 30-day option to purchase up to 396,963 additional shares.
2. Use of Proceeds and Strategic Impact
Net proceeds from the offering will be used for working capital and general corporate purposes, supporting the company’s development of a fully integrated North American mine-to-magnet rare earth supply chain, including upstream resource development and downstream manufacturing in Ohio for defense and clean-energy applications.