USA Rare Earth, Inc. (USAR), a mining and manufacturing company, on Thursday agreed to acquire Texas Mineral Resources Corp. (TMRC) in an all stock deal for about $73 million.
The transaction is expected to close by the third quarter of 2026.
Under the terms of the agreement, the company will acquire all outstanding shares of Texas Mineral Resources in exchange for 3,823,328 shares of its stock.
The company said that the deal will make it the sole operator and 100% economic beneficiary of the Round Top heavy rare earth and critical minerals project in Texas.
In the pre-market trading, USA Rare Earth is 0.79% higher at $19.06 on the Nasdaq.
On Wednesday, Texas Mineral Resources closed trading at $0.8600 on the OTC.
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