Molycorp receives $390 million strategic investment from Molymet
Clients Molycorp, Inc.
Jones Day advised Molycorp, Inc. in connection with the private placement of 12.5 million shares of Common Stock to Molibdenos y Metales S.A., a strategic investor headquartered in Santiago, Chile. The investor paid a 10% premium for the shares (measured against Molycorp's 20-day trailing volume weighted price on the NYSE) and received the right to nominate a director to Molycorp's board. This deal raised $390,225,000 for Molycorp to use for general corporate purposes and strategic acquisitions.
In addition to M&A representation, Jones Day is providing antitrust and capital markets advice regarding this transaction.