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, targeting gross proceeds of approximately $50 million. The offering, which includes a 30-day option for underwriters to purchase up to an additional 396,963 shares, is expected to close on or about March 9, 2026, subject to customary 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 company plans to use the net proceeds for working capital and general corporate purposes, which may include scaling its integrated North American rare earth supply chain from upstream mining to downstream magnet manufacturing.
REalloys' upstream foundation includes the Hoidas Lake rare-earth asset in Saskatchewan and a network of feedstock and recycling partners. In collaboration with the Saskatchewan Research Council, the company is building midstream separation, refining, and metallization capabilities to produce high-purity heavy rare earth materials. These materials feed into its downstream operations in Euclid, Ohio, where REalloys manufactures advanced heavy rare earth metals, alloys, and magnet components for defense, clean-energy, and industrial applications.
The offering is being made under a shelf registration statement on Form S-3 (File No. 333-284626) previously filed with the SEC and declared effective on February 10, 2025. A preliminary prospectus supplement was filed on March 5, 2026, and a final prospectus supplement will be filed with the SEC. Copies are available for free on the SEC's website at www.sec.gov or from Clear Street or Needham & Company.
The company's Ohio facility serves federal logistics and procurement agencies supporting the Department of Defense, Department of Energy, and NASA, as well as the broader Defense Industrial Base. This announcement underscores REalloys' strategy to strengthen domestic rare earth supply chains amid geopolitical concerns and rising demand for critical minerals in defense and clean energy technologies.
