Exploration stage rare earth ore merchant Rare Earths Americas (REA.US) IPO price set at 17-19 US dollars per share, aiming to raise 50 million US dollars.

Rare Earths Americas (REA.US), a rare earth mining company in the exploration stage, announced the terms of its initial public offering (IPO) on Tuesday, planning to issue 2.8 million shares at a price of $17 to $19 per share, raising $50 million. Rare Earths Americas is a critical mineral company with exploration projects in Brazil and the United States. The company has three significant projects: the Shiloh project in Georgia, and the Alpha and Constellation projects in Brazil. These projects focus on heavy rare earth elements, including neodymium, praseodymium, dysprosium, and terbium, which are mainly used in high-performance permanent magnets. The Brazilian assets are ion-adsorption type clay deposits, while the Shiloh project is primarily focused on monazite mineralization. The company has not generated revenue yet, and its current activities include exploration, resource definition, and metallurgical testing. Rare Earths Americas was founded in 2021 and plans to list on the NYSE American exchange under the ticker symbol REA. Cantor Fitzgerald, Stifel, Canaccord Genuity, and B. Riley Securities are acting as joint bookrunners for this offering.