USA Rare Earth Inc.'s stock surged 5.12% in after-hours trading on Thursday, marking a significant upward movement for the rare earth miner.
The sharp gain follows the company's announcement that it has closed a $1.5 billion private investment in public equity (PIPE) financing, providing substantial capital to strengthen its balance sheet and support strategic initiatives.
Additionally, the U.S. Department of Commerce announced a $1.6 billion funding package for USA Rare Earth under the CHIPS Act to build out a domestic magnet supply chain. This government support represents a major endorsement of the company's role in securing critical minerals supply chains independent of China.
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