Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Molycorp Places 12.5 Mln Shares With Molymet - Quick Facts

Molycorp, Inc. (MCP: Quote) 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.

Click here to receive FREE breaking news email alerts for Molycorp, Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. After ending the previous session modestly lower, stocks moved mostly higher over the course of the trading day on Thursday. The gains on the day more than offset yesterday's losses, lifting the major averages to their best closing levels in a month. Sen. Lindsey Graham, R-S.C., is seen as a long shot for the Republican presidential nomination in 2016, and his chances may have gotten worse after he was recorded joking about the prospects for "white men" if he were elected president.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.