FONT-SIZE Plus   Neg

Molycorp Places 12.5 Mln Shares With Molymet - Quick Facts

Molycorp, Inc. (MCP) on Monday said it closed its previously announced placement of 12.5 million shares of Molycorp common stock with Molibdenos y Metales S.A., or Molymet, for around $390 million.

Molycorp will use proceeds from the Molymet investment for general corporate purposes and to bolster its strategic flexibility. It will likely be used to finance a portion of the cash purchase price of Molycorp's recently announced acquisition of Neo Materials Technologies, Inc.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
It may be bad news for Etsy. The online source of cute, homespun crafts is not facing a cute, homespun rival. Online retail behemoth Amazon.com (AMZN) has rolled out its arts-and-crafts bazaar online aiming to snatch share in the growing handcrafted market. Amazon Handmade, a marketplace with more... In a surprise move, Jet.com Inc., which is being projected as the most promising challenge to Amazon.com Inc, abandoned its $50 annual membership fee. The discount-shopping site was launched three months back. Aiming for customers that prefer goods made with a little love, Amazon has launched Handmade, an online market selling artisan goods from around the world.
comments powered by Disqus
Follow RTT