EDITOR: | October 21st, 2013 | 1 Comment

Molycorp Announces the Successful Close of its Offering of Common Stock

| October 21, 2013 | 1 Comment

October 21, 2013 — Molycorp, Inc. (NYSE: 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.



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