REalloys Inc. (NASDAQ: ALOY), a U.S.-based mine-to-magnet rare earth company, announced today the pricing of its upsized underwritten public offering of 2,702,702 shares of common stock at $18.50 per share, with gross proceeds expected to reach approximately $50 million. The company has also granted underwriters a 30-day option to purchase up to an additional 396,963 shares. The offering is anticipated to close on or about March 9, 2026, subject to customary closing conditions.
Clear Street is serving as lead book-running manager, with Needham & Company as joint book-running manager. Laidlaw & Company (UK) Ltd. and Muriel Siebert & Co. are acting as co-managers, while Cantor is acting as capital markets advisor. The securities are being offered under a shelf registration statement on Form S-3 (File No. 333-284626) filed with the Securities and Exchange Commission (SEC) and declared effective on February 10, 2025.
REalloys intends to use the net proceeds for working capital and general corporate purposes, which aligns with its strategy to build a fully integrated North American mine-to-magnet supply chain. The company's operations span upstream resource development at its Hoidas Lake rare-earth asset in Saskatchewan, midstream processing in partnership with the Saskatchewan Research Council, and downstream manufacturing in Euclid, Ohio, where it produces advanced heavy rare earth metals, alloys, and magnet components for defense, clean-energy, and industrial applications.
This capital raise comes at a critical time as the U.S. seeks to reduce reliance on foreign rare earth supply chains, particularly from China. The company's Ohio facility serves federal agencies including the Department of Defense, Department of Energy, and NASA, positioning it as a key player in national security and clean energy supply chains. The upsized offering reflects strong investor interest in domestic rare earth production capabilities.
Investors can obtain copies of the prospectus and supplement via the SEC's EDGAR system at www.sec.gov or by contacting Clear Street or Needham & Company. The offering is subject to market conditions, and there is no assurance of completion. Forward-looking statements in the press release are subject to risks including project development uncertainties, market fluctuations, and regulatory approvals, as detailed in the company's SEC filings.
