USAR signs $1.6B CHIPS Act funding agreements with DOC for rare earth & magnet projects

USA Rare Earth, Inc.

$277M in direct awards and $1.3B loan guarantee (15-yr, Treas+150bps) from DOC under CHIPS Act.
Funds five projects: Round Top rare earth mine (TX), Stillwater magnet/metal expansion, two new facilities.
Issues 16.1M shares and warrant for 17.6M shares at $17.17 to DOC; dilutive to existing holders.
Prior $1.5B equity raise in Jan 2026 satisfies 2026 requirement; must raise $375M by Mar 2027 and $875M by Dec 2027.
FFB Advances secured by first-priority liens on substantially all assets; conditions include milestones and equity contributions.

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