Brazil-focused rare earth explorer has closed its NYSE American listing under ticker IMC, with underwriters retaining a 45-day option for 600,000 additional shares.
IMC Rare Earths Ltd has closed its initial public offering after selling 4,000,000 ordinary shares at $5.00 each for gross proceeds of $20,000,000 before underwriting discounts, commissions and other expenses. The company’s ordinary shares began trading on NYSE American LLC under the ticker IMC on July 29, 2026. The offering was conducted on a firm commitment basis, with Roberts & Ryan, Inc. acting as representative of the underwriters and Revere Securities LLC as co-underwriter. Underwriters hold a 45-day option to purchase up to 600,000 additional ordinary shares to cover over-allotments. IMC said it plans to use the proceeds for working capital and general corporate purposes, including exploration, development, licensing and permitting activities. The company is focused on rare earth elements used in magnets, and its principal asset is the Itarantim Project, an ionic adsorption clay rare earth deposit in the States of Bahia and Minas Gerais, Brazil. The SEC declared its Form F-1 registration statement effective on July 28, 2026.