Molycorp Announces the Successful Close of its Offering of Common Stock (NYSE: MCP)

Thomson Reuters ONEOctober 21, 2013

GREENWOOD VILLAGE, Colo.  (Oct. 21, 2013) -- Molycorp, Inc. (MCP) (the "Company") today announced the closing of its previously announced registered public offering of 51,750,000 shares of its common stock ("Shares"), which included the issuance of 6,750,000 Shares as a result of the underwriters` exercise in full of their option to purchase additional Shares in the Offering, at a price per share of $5.00 (the "Offering").  The Offering resulted in net proceeds to the Company, after estimated fees and expenses payable by the Company, of approximately $247.5 million.

Molibdenos y Metales S.A. (Molymet), one of the Company`s significant current stockholders, invested approximately $70 million in the Offering.   The Company intends to use the net proceeds received from the Offering to fund current capital needs for capital expenditures and other cash requirements, including, without limitation, capital expenditures at its Mountain Pass, California facility.   Morgan Stanley & Co. LLC, Goldman, Sachs & Co. and J.P. Morgan Securities LLC acted as joint bookrunners for the Offering.  BNP Paribas Securities Corp., GMP Securities L.P., HSBC Securities (USA) Inc. and Wells Fargo Securities, LLC acted as co-managers for the Offering. Moelis & Company LLC acted as the Company`s financial advisor and capital markets advisor for the Offering.
# # #   Source:  Molycorp, Inc.  ($MCP)
For more information:
Jim Sims, +1 (303) 843-8062 Vice President, Corporate Communications   Brian Blackman, +1 (303) 843-8067 Vice President, Investor Relations
About Molycorp, Inc.
Molycorp is the only advanced material manufacturer in the world that both controls a world-class rare earth resource and can produce high-purity, custom engineered rare earth products to meet increasingly demanding customer specifications. A globally integrated manufacturer, the Company produces a wide variety of specialized products from 13 different rare earths (lights and heavies), five rare metals (gallium, indium, rhenium, tantalum and niobium), and the transition metals yttrium and zirconium.  With 27 locations across 11 countries, Molycorp produces rare earth magnetic materials through its Molycorp Magnequench subsidiary, including neodymium-iron-boron (NdFeB) magnet powders, used to manufacture bonded NdFeB permanent rare earth magnets. Through its joint venture with Daido Steel and the Mitsubishi Corporation, Molycorp manufactures next-generation, sintered NdFeB permanent rare earth magnets. The Company also markets and sells a line of rare earth-based water treatment products through its Molycorp Advanced Water Technologies subsidiary. For more information please visit
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Source: Molycorp, Inc. via Thomson Reuters ONE