REalloys Inc. (NASDAQ: ALOY), a U.S.-based mine-to-magnet rare earth company, announced the pricing of its upsized underwritten public offering of 2,702,702 shares of common stock at $18.50 per share, expected to raise approximately $50 million in gross proceeds. The offering, which includes a 30-day option for underwriters to purchase up to an additional 396,963 shares, is set to close on or about March 9, 2026, subject to customary conditions. Clear Street is leading the offering as book-running manager, with Needham & Company as joint book-runner, and Laidlaw & Company (UK) Ltd., Muriel Siebert & Co., and Cantor as co-managers and capital markets advisor.
The company plans to use the net proceeds for working capital and general corporate purposes. This capital infusion is crucial as REalloys advances its fully integrated North American mine-to-magnet supply chain, encompassing upstream resource development, midstream processing, and downstream manufacturing. The company's upstream foundation includes the Hoidas Lake rare-earth asset in Saskatchewan and a network of allied feedstock and recycling partners.
REalloys is collaborating with the Saskatchewan Research Council to scale heavy rare earth midstream separation, refining, and metallization capabilities. These refined materials feed into the company's downstream manufacturing operations in Euclid, Ohio, where it produces advanced heavy rare earth metals, alloys, and magnet components for defense, clean-energy, and high-performance industrial applications. The Ohio facility serves federal logistics and procurement agencies supporting the Department of Defense, the Department of Energy, and NASA, as well as the broader Defense Industrial Base.
The offering is made under a shelf registration statement on Form S-3 (File No. 333-284626) filed with the Securities and Exchange Commission and declared effective on February 10, 2025. A preliminary prospectus supplement was filed on March 5, 2026, and the final prospectus supplement will be filed with the SEC. Copies can be obtained via EDGAR on the SEC's website at www.sec.gov or by contacting Clear Street or Needham & Company.
The announcement highlights the strategic importance of domestic rare earth production amid global supply chain vulnerabilities. REalloys' integrated approach aims to reduce reliance on foreign sources for critical minerals essential to defense and clean-energy technologies. The upsized offering reflects strong investor interest in companies that support U.S. critical mineral independence.
Forward-looking statements in the press release are subject to risks and uncertainties, including project development, supply-chain reliability, market conditions, and regulatory approvals. The company undertakes no obligation to update these statements.
