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M/MolyCorp

Molycorp Files Registration Statement for Proposed Initial Public Offering

2010-04-20 15:16
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GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--Molycorp, Inc., whose wholly owned subsidiary, Molycorp Minerals, LLC, is a U.S. rare earth producer and technology company, today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”) for a proposed underwritten initial public offering of its common stock. The offering is subject to applicable economic and capital market conditions. Molycorp expects to use the net proceeds of the offering for the modernization and expansion of its Mountain Pass, California mining and production facility as well as for general corporate purposes, including, without limitation, to fund working capital requirements and to develop new products, processes and technologies, both through acquisitions and capital programs.

J.P. Morgan Securities Inc. and Morgan Stanley & Co. Incorporated will act as joint book-running managers for the proposed offering. The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the offering may be obtained from J.P. Morgan Securities Inc.; c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; or from Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, New York, NY 10014 (1-866-718-1649, email address: prospectus@morganstanley.com).

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute a solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

Contacts

Molycorp
Jim Sims, 303-332-8259