Ogier helps take mineral exploration company IMC Rare Earths Ltd public in the US

Ogier’s Corporate specialists have advised Brazil-based mineral exploration firm IMC Rare Earths Ltd on its US$23 million NYSE American IPO, allowing the company to access growth capital for its principal project, the Itarantim project.

The initial public offering (IPO) of four million units was priced at US$5 per unit, together with a further 600,000 units issued following the full exercise of the underwriter’s over-allotment option. Units are listed on NYSE American LLC under the ticker symbol IMC.

IMC Rare Earths Ltd is a Cayman-incorporated company focused on the mineral exploration and development of magnet rare earth elements in Brazil. Funds raised will be used to advance IMC’s Itarantim project, an ionic adsorption clay rare earth deposit located in the States of Bahia and Minas Gerais, Brazil, which will help meet industry demand for a reliable rare earths supply in the region.

The Hong Kong-based team providing Cayman counsel to IMC was led by partner Florence Chan with support from the firm's global head of Corporate, Nathan Powell, and legal manager Anna Cheung.

Ogier worked alongside Gibson, Dunn & Crutcher LLP, who acted as US counsel to IMC.