REalloys closes $100M private placement at $14.25 per share

REalloys Inc. (Nasdaq: ALOY) has closed a private placement of 7,017,540 shares of common stock at $14.25 per share, generating approximately $100 million in gross proceeds before placement agent fees and offering expenses.

The Euclid, Ohio-based rare earth company said it intends to use the net proceeds for working capital and general corporate purposes.

Clear Street LLC served as the sole placement agent for the offering. Haynes and Boone, LLP acted as legal counsel to REalloys, while Paul Hastings LLP represented Clear Street LLC.

The shares sold in the offering have not been registered under the Securities Act of 1933. REalloys said it has agreed to file a registration statement with the Securities and Exchange Commission to register the resale of the shares.

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