Rare Earths Americas Inc. (NYSE: REA) announced the launch of its initial public offering consisting of approximately 2.8 million shares of common stock. The company set an expected price range of $17.00 to $19.00 per share for the offering.

The critical minerals company, which focuses on heavy rare earths projects in the United States and Brazil, granted underwriters a 30-day option to purchase up to an additional 0.4 million shares at the public offering price, minus underwriting discounts.

REA plans to list its common stock on NYSE American under the ticker symbol "REA."

The company stated it intends to use net proceeds from the offering to fund land acquisition and option payments, drilling, metallurgical test work, permitting and technical report preparation at its Shiloh Project. Additional proceeds will support exploration, evaluation, land consolidation, metallurgy, engineering and permitting studies at the Alpha and Constellation Projects.

REA also plans to evaluate exploration projects including Homer and Liberty Peak, and use remaining funds for working capital and general corporate purposes.

Cantor serves as lead book-running manager for the offering, with Stifel acting as book-running manager. Canaccord Genuity and B. Riley Securities are co-managers for the proposed offering.