Molycorp to Offer $200M of Common Stock

Molycorp

today announced that it intends to offer and sell, subject to market and other conditions, $200 million of its common stock (the "Common Stock") (or up to an aggregate of $230 million of Common Stock if the underwriters of such offering exercise their option to purchase additional shares of Common Stock in full) (the "Primary Shares Offering") and $100 million aggregate principal amount (or up to an aggregate of $115 million aggregate principal amount if the underwriters of such offering exercise their over-allotment option in full) of its Convertible Senior Notes due 2018 (the "Notes") (the "Notes Offering") in separate registered public offerings. The Company intends to use the net proceeds received from the Primary Shares Offering and the Notes Offering to fund current capital needs for capital expenditures and other cash requirements for 2013, including, without limitation, capital expenditures at its Mountain Pass facility. Concurrently with the Primary Shares Offering and the Notes Offering, the Company intends to lend to Morgan Stanley Capital Services LLC ("MSCS"), an affiliate of Morgan Stanley & Co. LLC ("Morgan Stanley"), under a share lending