Molycorp (MCP) Higher after Equity Pricings

January 25, 2013 9:00 AM EST Send to a Friend
Is the worst over for Molycorp (NYSE: MCP)?

Shares of the beaten-down rare earth miner are up over 1 percent after pricing an equity offering this morning.

Molycorp priced its previously announced public offering of 37,500,000 shares of its common stock at a price per share of $6.00 and $150 million aggregate principal amount of its 5.50% Convertible Senior Notes due 2018 in separate registered public offerings.

MCP last traded at $7.17, up 1.4%.


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