Rare Earths Americas, Inc. (REA), a critical minerals exploration company, on Tuesday, announced the launch of its initial public offering of approximately 2.8 million shares of stock.
The company expects the offering price to be between $17 and $19 per share.
The company also granted underwriters a 30-day option to purchase up to an additional 0.4 million shares.
The company plans to list its stock on the NYSE American under the ticker symbol "REA."
The company intends to use the proceeds to fund land acquisition, drilling, metallurgical work, and permitting at the Shiloh Project, as well as exploration and development activities at the Alpha and Constellation Projects, with remaining funds allocated to other exploration projects and general corporate purposes.
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