GREENWOOD VILLAGE, Colo. (Oct. 15, 2013) -- Molycorp, Inc. (NYSE: MCP) ("Molycorp" or the "Company") today announced that it intends to offer and sell, subject to market and other conditions, up to $200,000,000 of its common stock (the "Common Stock") (or up to an aggregate of $230,000,000 of Common Stock if the underwriters of such offering exercise their option to purchase additional shares of Common Stock in full) (the "Offering") in a registered public offering.
The Company intends to use the net proceeds received from the Offering to fund current capital needs for capital expenditures and other cash requirements, including, without limitation, capital expenditures at its Mountain Pass, California facility.
Morgan Stanley & Co. LLC, Goldman, Sachs & Co. and J.P. Morgan Securities LLC will act as joint bookrunners for the Offering.
The Offering may be made only by means of a prospectus supplement and an accompanying prospectus. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to the Offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014, from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, or email: firstname.lastname@example.org or from J.P. Morgan Securities LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 1-866-803-9204.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Common Stock or any other securities, nor will there be any sale of the Common Stock or any other securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted. A registration statement relating to the Common Stock has been filed with the Securities and Exchange Commission and is effective.
Cautionary Note Regarding Forward-Looking Statements
This news release includes "forward-looking statements" within the meaning of the securities laws. The statements in this news release regarding Molycorp's current expectations and beliefs as to the consummation of the Offering, as well as other statements that are not historical facts, are forward-looking statements. Forward-looking statements are estimates and projections reflecting management's judgment based on currently available information and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. All information set forth in this release is as of October 15, 2013. Molycorp does not intend, and undertakes no duty, to update this information to reflect future events or circumstances. Risk factors and uncertainties that may cause actual results to differ materially from expected results include, among others, our ability to successfully complete the Offering. Information about certain other potential factors that could affect our business and financial results and cause actual results to differ materially from those expressed or implied in any forward-looking statements are included from time to time in our filings with the Securities and Exchange Commission, including Part I, Item 1A "Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2012, as amended.
Molycorp has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents Molycorp has filed with the SEC for more complete information about Molycorp and the offering. You may obtain these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus for the offering if you request it by calling Morgan Stanley & Co. LLC at 1-866-718-1649 or Goldman Sachs & Co. at 1-866-471-2526 or J.P. Morgan Securities LLC at 1-866-803-9204.
Source: Molycorp, Inc. ($MCP)
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For More Information:
Brian Blackman, +1 303-843-8067
Vice President Investor Relations
Jim Sims, +1 303-843-8062
Vice President Corporate Communications