Drew Nordquist

Suji Desilva

- USA Rare Earth, Inc. (USAR) has announced the **redemption of all its outstanding warrants (USARW)**, effective **December 1, 2025**, at a **redemption price of $0.01 per warrant**.  **[1970622_0001970622-25-000057_ex991noticeofredemption.htm:0]** **[1970622_0001970622-25-000057_usar-20251030.htm:1]** 
- Warrants that remain unexercised by **5:00 p.m. New York City time on December 1, 2025**, will be void, with holders only entitled to the redemption price.  **[1970622_0001970622-25-000057_ex991noticeofredemption.htm:0]** 
- The company is exercising this right because its Common Stock (USAR) closing price met the condition of being at least **$18.00 per share** on 20 trading days within the 30-day trading period ending **October 27, 2025**.  **[1970622_0001970622-25-000057_ex991noticeofredemption.htm:0]** 
- Each warrant allows the holder to purchase one share of Common Stock at an **exercise price of $11.50**; on **October 29, 2025**, the Common Stock (USAR) closed at **$20.10** and the Warrants (USARW) closed at **$8.75**.  **[1970622_0001970622-25-000057_ex991noticeofredemption.htm:0]**

USA Rare Earth, Inc. Announces Redemption of Warrants

- USA Rare Earth announced the **acquisition of LCM** for **$100 million in cash and 6.74 million shares of USA Rare Earth common stock**.  **[1970622_2160718_4]**  The company also **raised $125 million through a common share PIPE issuance** at $15 per share, bringing its cash on hand to **nearly $250 million**.  **[1970622_2160718_4]** 
- The acquisition of LCM, described as the **only ex-China producer of rare earth metal, alloys, and strip casting at proven scale** and the **only producer of samarium metal outside of China**, is expected to **complete an integrated mine-to-magnet solution** and return rare earth metal making capabilities to the United States.  **[1970622_2160718_0]** **[1970622_2160718_4]** **[1970622_2160718_2]** 
- Additionally, **Barbara Humton** was appointed as the **new CEO** of USA Rare Earth, effective **October 1**.  **[1970622_2160718_0]**

USA Rare Earth Announces Acquisition of LCM and New CEO Appointment

- USA Rare Earth (USAR) announced its intent to acquire Less Common Metals (LCM) for **$217 million**, comprising **$100 million in cash** and **6.74 million shares of USAR common stock**.  **[1970622_2160593:8]**  Approximately **$250 million in cash** has been secured to finance the cash portion of the transaction and growth plans.  **[1970622_2160593:8]** 
- The acquisition, expected to close by the **end of the calendar year**  **[1970622_2160593:8]** , aims to establish USAR as the leading, scaled rare earth element (REE) metal and alloy manufacturer outside of China.  **[1970622_2160593:7]** 
- This transaction secures a critical link in USAR's supply chain, completing its mine-to-magnet strategy and de-risking operational performance.  **[1970622_2160593:7]** **[1970622_2160593:10]** 
- LCM is highlighted as a premier non-Chinese REE metal and alloy maker with **30 years of operating experience**, unique capabilities for metal making from recycled magnet oxides, and is the **only Samarium metal producer outside of China**.  **[1970622_2160593:9]** **[1970622_2160593:10]**

USA Rare Earth to Acquire Less Common Metals

- USA Rare Earth, Inc. (USAR) has entered into a definitive agreement to **acquire Less Common Metals (LCM)** for **$100 million in cash and 6.74 million shares of USAR common stock**.  **[1970622_0001213900-25-092611_ea025909801ex99-1_usarare.htm:1]**  This acquisition, announced on **September 29, 2025**, is expected to accelerate USAR's mine-to-magnet strategy by establishing an end-to-end rare earth supply chain.  **[1970622_0001213900-25-092611_ea025909801ex99-1_usarare.htm:1]** 
- The company also received a **$125 million common equity investment** from an existing shareholder at **$15.00 per share**.  **[1970622_0001213900-25-092611_ea025909801ex99-1_usarare.htm:3]**  These funds, combined with the company's current cash balance, will provide capital to execute USAR's growth plans.  **[1970622_0001213900-25-092611_ea025909801ex99-1_usarare.htm:3]** 
- **Barbara Humpton** has been appointed as the new Chief Executive Officer of USA Rare Earth, effective **October 1, 2025**, succeeding Josh Ballard.  **[1970622_0001213900-25-092611_ea025909801ex99-2_usarare.htm:0]** **[1970622_0001213900-25-092611_ea0259098-8k_usarare.htm:5]**  Ms. Humpton's compensation includes an annual base salary of **$750,000** and RSU grants with a total grant date value of **$10,000,000**.  **[1970622_0001213900-25-092611_ea0259098-8k_usarare.htm:5]**

USA Rare Earth Announces CEO Change, Acquisition of LCM, and Equity Investment

- USA Rare Earth (USAR) is focused on establishing a domestic supply chain for rare earth minerals and magnets, aiming to address China's **90-98% control** of the global market.  **[1970622_tx_375152_1]**  The company's key assets include an **80% interest in Round Top Mountain**, a heavy rare earth deposit, and a magnet manufacturing facility in Stillwater, Oklahoma.  **[1970622_tx_375152_4]** 
- The Stillwater magnet facility is finalizing its initial **600 metric tons** of production (Phase 1a), with commissioning expected in **Q1 next year** (2026).  **[1970622_tx_375152_4]** **[1970622_tx_375152_5]**  The facility has a total capacity of **5,000 metric tons**, with potential to expand to **10,000 metric tons**.  **[1970622_tx_375152_5]** 
- USAR is actively engaging with customers, with **70 customers** in its pipeline and **12 MOUs** signed, representing **5,000 to 7,000 metric tons of demand**.  **[1970622_tx_375152_4]** **[1970622_tx_375152_6]**  The company anticipates announcing purchase orders in the **next three to four months**.  **[1970622_tx_375152_5]** **[1970622_tx_375152_6]** 
- The company has a strong financial position with **$130 million in cash** on its balance sheet, having raised over **$140 million in the last six months**.  **[1970622_tx_375152_6]**  Approximately **$60 million in CapEx** is planned for Q3 and Q4 (2025).  **[1970622_tx_375152_7]** 
- USAR is in discussions with various U.S. government entities for potential grants, loans, or equity, positioning itself as a complementary supplier of heavy rare earths for defense and other critical industries.  **[1970622_tx_375152_7]** **[1970622_tx_375152_11]**