[424B3] USA Rare Earth, Inc. Warrant Prospectus Filed Pursuant to Rule 424(b)(3)
Rocket Companies, Inc. (NYSE: RKT) has filed an automatic shelf registration statement (Form S-3ASR) to cover up to 104,519 shares of its Class A common stock. The filing is strictly administrative and relates to the July 1, 2025 closing of Rocket’s all-stock acquisition of Redfin Corporation. At the effective time of the merger, Rocket assumed outstanding Redfin stock options granted under Redfin’s 2004 Equity Incentive Plan; this registration statement allows those options—now convertible into Rocket shares—to be exercised and the resulting shares to be freely resold.
Key elements of the prospectus
- Only 104,519 new shares are being registered, representing <~0.07% of Rocket’s 151.5 million Class A shares outstanding; any dilution is therefore de-minimis.
- The company will receive cash proceeds only if former Redfin optionees exercise with cash; any such proceeds will be used for unspecified general corporate purposes.
- Rocket remains a large accelerated filer and the registration becomes automatically effective under Rule 462(e), giving the company flexibility to issue the covered shares without further SEC review.
- A detailed risk-factor section reiterates existing macro, interest-rate, cybersecurity, AI-regulatory and concentration-of-control risks, and highlights integration execution risks for both the Redfin and pending Mr. Cooper acquisitions.
- The filing leaves Rocket’s dual-class share structure intact; founder Dan Gilbert continues to hold majority voting control through Class L shares.
This registration does not raise new capital, change capital structure, or alter strategic guidance; it simply completes a technical requirement tied to the Redfin deal and keeps Rocket in compliance with SEC resale rules for assumed employee equity awards.
Rocket Companies, Inc. (NYSE: RKT) ha depositato una dichiarazione di registrazione automatica a tendina (Modulo S-3ASR) per coprire fino a 104.519 azioni della sua azione ordinaria di Classe A. Il deposito è puramente amministrativo e riguarda la chiusura del 1° luglio 2025 dell’acquisizione interamente azionaria di Redfin Corporation da parte di Rocket. Al momento dell’efficacia della fusione, Rocket ha assunto le opzioni azionarie in circolazione di Redfin concesse secondo il Piano di Incentivi Azionari 2004 di Redfin; questa dichiarazione di registrazione consente l’esercizio di tali opzioni—ora convertibili in azioni Rocket—e la libera rivendita delle azioni risultanti.
Elementi chiave del prospetto
- Vengono registrate solo 104.519 nuove azioni, che rappresentano circa lo 0,07% delle 151,5 milioni di azioni di Classe A in circolazione di Rocket; pertanto, qualsiasi diluizione è trascurabile.
- L’azienda riceverà proventi in contanti solo se i precedenti titolari di opzioni Redfin eserciteranno con pagamento in contanti; tali proventi saranno utilizzati per scopi generali aziendali non specificati.
- Rocket rimane un emittente grande e accelerato e la registrazione diventa automaticamente efficace ai sensi della Regola 462(e), offrendo all’azienda la flessibilità di emettere le azioni coperte senza ulteriori revisioni da parte della SEC.
- Una sezione dettagliata sui fattori di rischio ribadisce i rischi esistenti legati a macroeconomia, tassi di interesse, sicurezza informatica, regolamentazione dell’IA e concentrazione del controllo, evidenziando inoltre i rischi di esecuzione dell’integrazione sia per Redfin che per l’acquisizione in corso di Mr. Cooper.
- Il deposito mantiene intatta la struttura azionaria a doppia classe di Rocket; il fondatore Dan Gilbert continua a detenere il controllo di voto di maggioranza tramite le azioni di Classe L.
Questa registrazione non comporta l’emissione di nuovo capitale, non modifica la struttura del capitale né cambia le linee guida strategiche; completa semplicemente un requisito tecnico legato all’accordo con Redfin e mantiene Rocket conforme alle regole SEC sulla rivendita delle azioni derivanti da premi azionari assunti.
Rocket Companies, Inc. (NYSE: RKT) ha presentado una declaración de registro automático en estantería (Formulario S-3ASR) para cubrir hasta 104,519 acciones de su acción común Clase A. La presentación es estrictamente administrativa y se relaciona con el cierre el 1 de julio de 2025 de la adquisición totalmente en acciones de Redfin Corporation por parte de Rocket. En el momento en que la fusión se haga efectiva, Rocket asumió las opciones sobre acciones pendientes de Redfin otorgadas bajo el Plan de Incentivos de Capital 2004 de Redfin; esta declaración de registro permite que esas opciones—ahora convertibles en acciones de Rocket—se ejerzan y que las acciones resultantes puedan ser revendidas libremente.
Elementos clave del prospecto
- Solo se registran 104,519 nuevas acciones, que representan aproximadamente el 0,07% de las 151.5 millones de acciones Clase A en circulación de Rocket; por lo tanto, cualquier dilución es mínima.
- La compañía recibirá ingresos en efectivo solo si los antiguos tenedores de opciones de Redfin ejercen con efectivo; dichos ingresos se utilizarán para fines corporativos generales no especificados.
- Rocket sigue siendo un emisor grande acelerado y el registro se vuelve automáticamente efectivo bajo la Regla 462(e), lo que le da a la compañía la flexibilidad de emitir las acciones cubiertas sin una revisión adicional de la SEC.
- Una sección detallada de factores de riesgo reitera los riesgos existentes macroeconómicos, de tasas de interés, ciberseguridad, regulación de IA y concentración de control, y destaca riesgos de ejecución de integración tanto para Redfin como para la adquisición pendiente de Mr. Cooper.
- La presentación mantiene intacta la estructura accionaria de doble clase de Rocket; el fundador Dan Gilbert continúa teniendo el control mayoritario de voto a través de las acciones Clase L.
Este registro no genera nuevo capital, no cambia la estructura de capital ni altera la guía estratégica; simplemente cumple un requisito técnico vinculado al acuerdo con Redfin y mantiene a Rocket en cumplimiento con las reglas de reventa de la SEC para premios de capital asumidos de empleados.
Rocket Companies, Inc. (NYSE: RKT)는 최대 104,519주의 클래스 A 보통주에 대해 자동 선반 등록 명세서(Form S-3ASR)를 제출했습니다. 이 제출은 엄격히 행정적인 것으로, 2025년 7월 1일에 완료될 Rocket의 전액 주식 인수인 Redfin Corporation 인수와 관련이 있습니다. 합병 발효 시점에 Rocket은 Redfin의 2004년 주식 인센티브 계획에 따라 부여된 미결제 Redfin 주식 옵션을 인수했으며, 이 등록 명세서는 이제 Rocket 주식으로 전환 가능한 해당 옵션을 행사하고 결과로 발생한 주식을 자유롭게 재판매할 수 있도록 허용합니다.
투자설명서의 주요 내용
- 등록되는 신규 주식은 104,519주에 불과하며, 이는 Rocket의 1억 5,150만 클래스 A 주식의 약 0.07%에 해당하므로 희석 효과는 미미합니다.
- 회사는 이전 Redfin 옵션 보유자가 현금으로 행사하는 경우에만 현금 수익을 받으며, 이러한 수익은 구체적으로 명시되지 않은 일반 기업 목적에 사용됩니다.
- Rocket은 대규모 가속 신고자로 남아 있으며, 본 등록은 규칙 462(e)에 따라 자동으로 효력을 발생하여 회사가 추가 SEC 검토 없이 해당 주식을 발행할 수 있는 유연성을 제공합니다.
- 상세한 위험 요소 섹션에서는 기존의 거시경제, 금리, 사이버 보안, AI 규제 및 지배구조 집중 위험을 재확인하고, Redfin 및 진행 중인 Mr. Cooper 인수 통합 실행 위험을 강조합니다.
- 등록은 Rocket의 이중 클래스 주식 구조를 유지하며, 설립자 Dan Gilbert는 클래스 L 주식을 통해 다수의 의결권을 계속 보유합니다.
이번 등록은 새로운 자본을 조달하거나 자본 구조를 변경하거나 전략적 지침을 변경하지 않으며, 단지 Redfin 거래와 관련된 기술적 요건을 완료하고 Rocket이 인수한 직원 주식 보상에 대한 SEC 재판매 규정을 준수하도록 유지하는 것입니다.
Rocket Companies, Inc. (NYSE : RKT) a déposé une déclaration d’enregistrement automatique (Formulaire S-3ASR) pour couvrir jusqu’à 104 519 actions de ses actions ordinaires de classe A. Ce dépôt est strictement administratif et concerne la clôture au 1er juillet 2025 de l’acquisition entièrement en actions de Redfin Corporation par Rocket. Au moment de la fusion, Rocket a assumé les options d’achat d’actions en circulation de Redfin accordées dans le cadre du Plan d’incitation au capital de 2004 de Redfin ; cette déclaration d’enregistrement permet l’exercice de ces options—désormais convertibles en actions Rocket—et la revente libre des actions résultantes.
Éléments clés du prospectus
- Seules 104 519 nouvelles actions sont enregistrées, représentant environ 0,07 % des 151,5 millions d’actions de classe A en circulation de Rocket ; toute dilution est donc négligeable.
- La société ne recevra des liquidités que si les anciens bénéficiaires d’options Redfin exercent avec des liquidités ; ces liquidités seront utilisées à des fins générales d’entreprise non spécifiées.
- Rocket reste un déposant à grande échelle accélérée et l’enregistrement devient automatiquement effectif selon la règle 462(e), offrant à la société la flexibilité d’émettre les actions concernées sans examen supplémentaire de la SEC.
- Une section détaillée sur les facteurs de risque rappelle les risques existants liés à la macroéconomie, aux taux d’intérêt, à la cybersécurité, à la régulation de l’IA et à la concentration du contrôle, et met en lumière les risques d’exécution de l’intégration pour les acquisitions de Redfin et de Mr. Cooper en cours.
- Le dépôt maintient la structure à actions à double catégorie de Rocket intacte ; le fondateur Dan Gilbert continue de détenir le contrôle majoritaire du droit de vote via les actions de classe L.
Cette inscription ne génère pas de nouveau capital, ne modifie pas la structure du capital ni n’altère les orientations stratégiques ; elle complète simplement une exigence technique liée à l’accord Redfin et maintient Rocket en conformité avec les règles de revente de la SEC pour les attributions d’actions des employés assumées.
Rocket Companies, Inc. (NYSE: RKT) hat eine automatische Shelf-Registrierungserklärung (Formular S-3ASR) eingereicht, um bis zu 104.519 Aktien seiner Klasse-A-Stammaktien abzudecken. Die Einreichung ist rein administrativ und bezieht sich auf den Abschluss der vollständig aktienbasierten Übernahme von Redfin Corporation durch Rocket am 1. Juli 2025. Zum Zeitpunkt des Wirksamwerdens der Fusion hat Rocket ausstehende Redfin-Aktienoptionen übernommen, die im Rahmen des Equity Incentive Plans von Redfin aus dem Jahr 2004 gewährt wurden; diese Registrierungserklärung ermöglicht es, diese Optionen—die nun in Rocket-Aktien umwandelbar sind—auszuüben und die daraus resultierenden Aktien frei weiterzuverkaufen.
Wesentliche Punkte des Prospekts
- Es werden nur 104.519 neue Aktien registriert, was etwa 0,07 % der 151,5 Millionen ausstehenden Klasse-A-Aktien von Rocket entspricht; jegliche Verwässerung ist somit vernachlässigbar.
- Das Unternehmen erhält nur dann Bareinnahmen, wenn ehemalige Redfin-Optionsinhaber mit Bargeld ausüben; diese Einnahmen werden für nicht näher bezeichnete allgemeine Unternehmenszwecke verwendet.
- Rocket bleibt ein Large Accelerated Filer und die Registrierung wird gemäß Regel 462(e) automatisch wirksam, was dem Unternehmen Flexibilität gibt, die abgedeckten Aktien ohne weitere SEC-Prüfung auszugeben.
- Ein detaillierter Risikofaktorenabschnitt wiederholt bestehende Risiken in Bezug auf Makroökonomie, Zinssätze, Cybersicherheit, KI-Regulierung und Konzentration der Kontrolle und hebt Integrationsausführungsrisiken sowohl für die Redfin- als auch für die ausstehende Mr.-Cooper-Übernahme hervor.
- Die Einreichung belässt die Dual-Class-Aktienstruktur von Rocket unverändert; Gründer Dan Gilbert behält weiterhin die Mehrheitskontrolle über die stimmberechtigten Klasse-L-Aktien.
Diese Registrierung führt nicht zu neuem Kapital, ändert nicht die Kapitalstruktur und ändert auch nicht die strategische Ausrichtung; sie erfüllt lediglich eine technische Anforderung im Zusammenhang mit dem Redfin-Deal und hält Rocket in Übereinstimmung mit den SEC-Wiederverkaufsregeln für übernommene Mitarbeiteraktien.
- Redfin acquisition officially closed, removing transaction-completion uncertainty and allowing integration to commence.
- Immaterial dilution: only 104,519 additional shares (<~0.07% of Class A) are being registered.
- Automatic shelf provides flexibility for Rocket to quickly facilitate option exercises without further SEC clearance.
- Persistent concentration of control: Dan Gilbert’s majority voting power and extended lock-ups remain unchanged.
- No incremental financial guidance or quantified synergy targets provided, offering limited insight into Redfin integration benefits.
Insights
TL;DR – Routine shelf to register 104.5k shares; immaterial dilution, signals Redfin deal closing.
From a capital-markets perspective, this Form S-3ASR is largely housekeeping. The 104,519 shares equate to roughly 0.07 % of Class A shares outstanding and less than 0.005 % of fully diluted shares when Class L is included—far below materiality thresholds for valuation models. Cash proceeds, if any, will be nominal and classified as operating cash inflow.
The more consequential datapoint is confirmation that the Redfin acquisition legally closed on July 1. Investors can now shift focus from transaction risk to integration execution. Management gains additional flexibility because an automatic shelf permits rapid issuance of registered securities in future if needed.
Risk language is expansive, echoing prior filings, and underscores integration, rate-sensitivity and Dan Gilbert control issues. No financial forecasts or updated synergy targets are provided, so there is no new information to adjust earnings estimates. Overall impact is neutral.
TL;DR – Filing formalizes employee-equity transition; control profile and dual-class issues persist.
The S-3ASR ensures that legacy Redfin employees can lawfully exercise their rollover options, aligning incentives post-merger. While administratively sound, the prospectus restates a governance framework dominated by founder Dan Gilbert—Class L shares can wield up to 79 % of voting power, and lock-ups extend through 2027. Such concentration may deter activist influence and prolong controlled-company exemptions on NYSE governance rules.
The document also embeds anti-takeover provisions (classified board, super-majority by-law amendments, Detroit HQ restriction) that reduce hostile-bid optionality. From a governance-risk lens, investors should weigh the benefits of strategic continuity against limited minority influence. Because these terms mirror prior disclosures, they do not shift risk, leaving the impact neutral.
Rocket Companies, Inc. (NYSE: RKT) ha depositato una dichiarazione di registrazione automatica a tendina (Modulo S-3ASR) per coprire fino a 104.519 azioni della sua azione ordinaria di Classe A. Il deposito è puramente amministrativo e riguarda la chiusura del 1° luglio 2025 dell’acquisizione interamente azionaria di Redfin Corporation da parte di Rocket. Al momento dell’efficacia della fusione, Rocket ha assunto le opzioni azionarie in circolazione di Redfin concesse secondo il Piano di Incentivi Azionari 2004 di Redfin; questa dichiarazione di registrazione consente l’esercizio di tali opzioni—ora convertibili in azioni Rocket—e la libera rivendita delle azioni risultanti.
Elementi chiave del prospetto
- Vengono registrate solo 104.519 nuove azioni, che rappresentano circa lo 0,07% delle 151,5 milioni di azioni di Classe A in circolazione di Rocket; pertanto, qualsiasi diluizione è trascurabile.
- L’azienda riceverà proventi in contanti solo se i precedenti titolari di opzioni Redfin eserciteranno con pagamento in contanti; tali proventi saranno utilizzati per scopi generali aziendali non specificati.
- Rocket rimane un emittente grande e accelerato e la registrazione diventa automaticamente efficace ai sensi della Regola 462(e), offrendo all’azienda la flessibilità di emettere le azioni coperte senza ulteriori revisioni da parte della SEC.
- Una sezione dettagliata sui fattori di rischio ribadisce i rischi esistenti legati a macroeconomia, tassi di interesse, sicurezza informatica, regolamentazione dell’IA e concentrazione del controllo, evidenziando inoltre i rischi di esecuzione dell’integrazione sia per Redfin che per l’acquisizione in corso di Mr. Cooper.
- Il deposito mantiene intatta la struttura azionaria a doppia classe di Rocket; il fondatore Dan Gilbert continua a detenere il controllo di voto di maggioranza tramite le azioni di Classe L.
Questa registrazione non comporta l’emissione di nuovo capitale, non modifica la struttura del capitale né cambia le linee guida strategiche; completa semplicemente un requisito tecnico legato all’accordo con Redfin e mantiene Rocket conforme alle regole SEC sulla rivendita delle azioni derivanti da premi azionari assunti.
Rocket Companies, Inc. (NYSE: RKT) ha presentado una declaración de registro automático en estantería (Formulario S-3ASR) para cubrir hasta 104,519 acciones de su acción común Clase A. La presentación es estrictamente administrativa y se relaciona con el cierre el 1 de julio de 2025 de la adquisición totalmente en acciones de Redfin Corporation por parte de Rocket. En el momento en que la fusión se haga efectiva, Rocket asumió las opciones sobre acciones pendientes de Redfin otorgadas bajo el Plan de Incentivos de Capital 2004 de Redfin; esta declaración de registro permite que esas opciones—ahora convertibles en acciones de Rocket—se ejerzan y que las acciones resultantes puedan ser revendidas libremente.
Elementos clave del prospecto
- Solo se registran 104,519 nuevas acciones, que representan aproximadamente el 0,07% de las 151.5 millones de acciones Clase A en circulación de Rocket; por lo tanto, cualquier dilución es mínima.
- La compañía recibirá ingresos en efectivo solo si los antiguos tenedores de opciones de Redfin ejercen con efectivo; dichos ingresos se utilizarán para fines corporativos generales no especificados.
- Rocket sigue siendo un emisor grande acelerado y el registro se vuelve automáticamente efectivo bajo la Regla 462(e), lo que le da a la compañía la flexibilidad de emitir las acciones cubiertas sin una revisión adicional de la SEC.
- Una sección detallada de factores de riesgo reitera los riesgos existentes macroeconómicos, de tasas de interés, ciberseguridad, regulación de IA y concentración de control, y destaca riesgos de ejecución de integración tanto para Redfin como para la adquisición pendiente de Mr. Cooper.
- La presentación mantiene intacta la estructura accionaria de doble clase de Rocket; el fundador Dan Gilbert continúa teniendo el control mayoritario de voto a través de las acciones Clase L.
Este registro no genera nuevo capital, no cambia la estructura de capital ni altera la guía estratégica; simplemente cumple un requisito técnico vinculado al acuerdo con Redfin y mantiene a Rocket en cumplimiento con las reglas de reventa de la SEC para premios de capital asumidos de empleados.
Rocket Companies, Inc. (NYSE: RKT)는 최대 104,519주의 클래스 A 보통주에 대해 자동 선반 등록 명세서(Form S-3ASR)를 제출했습니다. 이 제출은 엄격히 행정적인 것으로, 2025년 7월 1일에 완료될 Rocket의 전액 주식 인수인 Redfin Corporation 인수와 관련이 있습니다. 합병 발효 시점에 Rocket은 Redfin의 2004년 주식 인센티브 계획에 따라 부여된 미결제 Redfin 주식 옵션을 인수했으며, 이 등록 명세서는 이제 Rocket 주식으로 전환 가능한 해당 옵션을 행사하고 결과로 발생한 주식을 자유롭게 재판매할 수 있도록 허용합니다.
투자설명서의 주요 내용
- 등록되는 신규 주식은 104,519주에 불과하며, 이는 Rocket의 1억 5,150만 클래스 A 주식의 약 0.07%에 해당하므로 희석 효과는 미미합니다.
- 회사는 이전 Redfin 옵션 보유자가 현금으로 행사하는 경우에만 현금 수익을 받으며, 이러한 수익은 구체적으로 명시되지 않은 일반 기업 목적에 사용됩니다.
- Rocket은 대규모 가속 신고자로 남아 있으며, 본 등록은 규칙 462(e)에 따라 자동으로 효력을 발생하여 회사가 추가 SEC 검토 없이 해당 주식을 발행할 수 있는 유연성을 제공합니다.
- 상세한 위험 요소 섹션에서는 기존의 거시경제, 금리, 사이버 보안, AI 규제 및 지배구조 집중 위험을 재확인하고, Redfin 및 진행 중인 Mr. Cooper 인수 통합 실행 위험을 강조합니다.
- 등록은 Rocket의 이중 클래스 주식 구조를 유지하며, 설립자 Dan Gilbert는 클래스 L 주식을 통해 다수의 의결권을 계속 보유합니다.
이번 등록은 새로운 자본을 조달하거나 자본 구조를 변경하거나 전략적 지침을 변경하지 않으며, 단지 Redfin 거래와 관련된 기술적 요건을 완료하고 Rocket이 인수한 직원 주식 보상에 대한 SEC 재판매 규정을 준수하도록 유지하는 것입니다.
Rocket Companies, Inc. (NYSE : RKT) a déposé une déclaration d’enregistrement automatique (Formulaire S-3ASR) pour couvrir jusqu’à 104 519 actions de ses actions ordinaires de classe A. Ce dépôt est strictement administratif et concerne la clôture au 1er juillet 2025 de l’acquisition entièrement en actions de Redfin Corporation par Rocket. Au moment de la fusion, Rocket a assumé les options d’achat d’actions en circulation de Redfin accordées dans le cadre du Plan d’incitation au capital de 2004 de Redfin ; cette déclaration d’enregistrement permet l’exercice de ces options—désormais convertibles en actions Rocket—et la revente libre des actions résultantes.
Éléments clés du prospectus
- Seules 104 519 nouvelles actions sont enregistrées, représentant environ 0,07 % des 151,5 millions d’actions de classe A en circulation de Rocket ; toute dilution est donc négligeable.
- La société ne recevra des liquidités que si les anciens bénéficiaires d’options Redfin exercent avec des liquidités ; ces liquidités seront utilisées à des fins générales d’entreprise non spécifiées.
- Rocket reste un déposant à grande échelle accélérée et l’enregistrement devient automatiquement effectif selon la règle 462(e), offrant à la société la flexibilité d’émettre les actions concernées sans examen supplémentaire de la SEC.
- Une section détaillée sur les facteurs de risque rappelle les risques existants liés à la macroéconomie, aux taux d’intérêt, à la cybersécurité, à la régulation de l’IA et à la concentration du contrôle, et met en lumière les risques d’exécution de l’intégration pour les acquisitions de Redfin et de Mr. Cooper en cours.
- Le dépôt maintient la structure à actions à double catégorie de Rocket intacte ; le fondateur Dan Gilbert continue de détenir le contrôle majoritaire du droit de vote via les actions de classe L.
Cette inscription ne génère pas de nouveau capital, ne modifie pas la structure du capital ni n’altère les orientations stratégiques ; elle complète simplement une exigence technique liée à l’accord Redfin et maintient Rocket en conformité avec les règles de revente de la SEC pour les attributions d’actions des employés assumées.
Rocket Companies, Inc. (NYSE: RKT) hat eine automatische Shelf-Registrierungserklärung (Formular S-3ASR) eingereicht, um bis zu 104.519 Aktien seiner Klasse-A-Stammaktien abzudecken. Die Einreichung ist rein administrativ und bezieht sich auf den Abschluss der vollständig aktienbasierten Übernahme von Redfin Corporation durch Rocket am 1. Juli 2025. Zum Zeitpunkt des Wirksamwerdens der Fusion hat Rocket ausstehende Redfin-Aktienoptionen übernommen, die im Rahmen des Equity Incentive Plans von Redfin aus dem Jahr 2004 gewährt wurden; diese Registrierungserklärung ermöglicht es, diese Optionen—die nun in Rocket-Aktien umwandelbar sind—auszuüben und die daraus resultierenden Aktien frei weiterzuverkaufen.
Wesentliche Punkte des Prospekts
- Es werden nur 104.519 neue Aktien registriert, was etwa 0,07 % der 151,5 Millionen ausstehenden Klasse-A-Aktien von Rocket entspricht; jegliche Verwässerung ist somit vernachlässigbar.
- Das Unternehmen erhält nur dann Bareinnahmen, wenn ehemalige Redfin-Optionsinhaber mit Bargeld ausüben; diese Einnahmen werden für nicht näher bezeichnete allgemeine Unternehmenszwecke verwendet.
- Rocket bleibt ein Large Accelerated Filer und die Registrierung wird gemäß Regel 462(e) automatisch wirksam, was dem Unternehmen Flexibilität gibt, die abgedeckten Aktien ohne weitere SEC-Prüfung auszugeben.
- Ein detaillierter Risikofaktorenabschnitt wiederholt bestehende Risiken in Bezug auf Makroökonomie, Zinssätze, Cybersicherheit, KI-Regulierung und Konzentration der Kontrolle und hebt Integrationsausführungsrisiken sowohl für die Redfin- als auch für die ausstehende Mr.-Cooper-Übernahme hervor.
- Die Einreichung belässt die Dual-Class-Aktienstruktur von Rocket unverändert; Gründer Dan Gilbert behält weiterhin die Mehrheitskontrolle über die stimmberechtigten Klasse-L-Aktien.
Diese Registrierung führt nicht zu neuem Kapital, ändert nicht die Kapitalstruktur und ändert auch nicht die strategische Ausrichtung; sie erfüllt lediglich eine technische Anforderung im Zusammenhang mit dem Redfin-Deal und hält Rocket in Übereinstimmung mit den SEC-Wiederverkaufsregeln für übernommene Mitarbeiteraktien.
Filed pursuant to Rule 424(b)(3)
Registration No. 333-283181
PROSPECTUS SUPPLEMENT No. 4
(to Prospectus dated February 14, 2025)
USA RARE EARTH, INC.
This prospectus supplement updates, amends and supplements the prospectus dated February 14, 2025 (the “Prospectus”), as which forms a part of our Registration Statement on Form S-4 (Registration No. 333-283181), as amended by Post-Effective Amendment No. 2 to our Registration Statement on Form S-4, filed with the Securities and Exchange Commission (the “SEC”) on April 22, 2025. Capitalized terms used in this prospectus supplement and not otherwise defined herein have the meanings specified in the Prospectus.
This prospectus supplement is being filed to update, amend and supplement the information included in the Prospectus with the information contained in:
| ● | our Current Report on Form 8-K filed with the SEC on July 1, 2025, which is set forth below. |
This prospectus supplement is not complete without the Prospectus. This prospectus supplement should be read in conjunction with the Prospectus, which is to be delivered with this prospectus supplement, and is qualified by reference thereto, except to the extent that the information in this prospectus supplement updates or supersedes the information contained in the Prospectus. Please keep this prospectus supplement with your Prospectus for future reference.
USA Rare Earth, Inc.’s Common Stock and Warrants are listed on the Nasdaq Stock Market LLC under the symbols “USAR” and “USARW,” respectively. On June 30, 2025, the closing price of our Common Stock was $10.95 per share and the closing price of our Warrants was $2.38 per Warrant.
We are an “emerging growth company” and a “smaller reporting company” as such terms are defined under the federal securities laws and, as such, are subject to certain reduced public company reporting requirements.
Investing in our securities involves a high degree of risk. You should review carefully the risks and uncertainties described under the heading “Risk Factors” of the Prospectus, and under similar headings in any amendments or supplements to the Prospectus.
Neither the SEC nor any state securities commission has approved or disapproved of these securities or determined if the Prospectus or this prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense.
The date of this prospectus supplement is July 1, 2025.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 1, 2025
USA RARE EARTH, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-41711 | 98-1720278 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (I.R.S. Employer Identification No.) |
| 100 W Airport Road, Stillwater, OK |
74075 | |
| (Address of principal executive offices) | (Zip Code) |
(813)-867-6155
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| Common Stock shares, par value $0.0001 per share | USAR | The Nasdaq Stock Market LLC | ||
| Warrants, each whole warrant exercisable for one share of Common Stock, each at an exercise price of $11.50 per share | USARW | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.07. Submission of Matters to a Vote of Security Holders.
On July 1, 2025, USA Rare Earth, Inc. (the “Company”) held a special meeting of stockholders (the “Special Meeting”). At the Special Meeting, the Company’s stockholders approved, in accordance with Nasdaq Listing Rule 5635(d), the issuance of up to 10,714,286 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), pursuant to a warrant (the “Common Warrant”) issued to an institutional investor in connection with the private placement transaction (the “Private Placement”) which closed on May 2, 2025 (the “Warrant Share Issuance Proposal”).
Holders of outstanding shares of Common Stock and the Company's 12% Series A Cumulative Convertible Preferred Stock, par value $0.0001 per share (“Series A Preferred Stock”) as of the record date, May 23, 2025, present virtually or by proxy at the Special Meeting were entitled to vote on the matters presented at the Special Meeting. Holders of Common Stock and Series A Preferred Stock (on an as converted basis) voted as a single class on each matter presented at the Special Meeting. As of the record date, May 23, 2025 (the “Record Date”), the shares of Common Stock are entitled to one vote per share and the shares of Series A Preferred Stock are entitled to approximately 1.7543 votes per share. In accordance with Nasdaq Listing Rule 5635, and the interpretive material thereunder, the holder of the Common Warrant was not permitted to vote the shares of Common Stock issued to it in the Private Placement on the Warrant Share Issuance Proposal and such shares are excluded from the percentages set forth below.
At the Special Meeting, an aggregate of 45,846,321 (55.56%) shares of Common Stock entitled to vote at the Special Meeting and 3,108,846 (61.94%) shares of Series A Preferred Stock entitled to vote at the Special Meeting, representing an aggregate of 51,300,170 (56.19%) of all votes of shares of Common Stock and Series A Preferred Stock, held as of the Record Date and entitled to vote at the Special Meeting, were present virtually or by proxy, which represented a quorum.
The final voting results for the Warrant Share Issuance Proposal were as follows:
| For | Against | Abstain | Broker Non-Votes | |||
| 51,092,866 | 191,705 | 15,599 | 0 |
The proposal to approve the adjournment of the Special Meeting to a later date, if necessary or appropriate, to permit further solicitation and vote of proxies in the event that there are insufficient votes for, or otherwise in connection with the approval of the Warrant Share Issuance Proposal was deemed not necessary and not acted upon at the Special Meeting because there were sufficient votes at the time of the Special Meeting to approve the adoption of the Warrant Share Issuance Proposal.
Item 8.01. Other Events.
As previously disclosed, a complaint was filed in Delaware Chancery Court by Ramco Asset Management, LLC (“Ramco”), US Trading Company Metals RE, LLC, and Dinsha Dynasty Trust on July 29, 2022 against USA Rare Earth, LLC (“USARE OpCo”), Morzev Pty Ltd., Mordechai Gutnick ATF the Morzev Trust, Mordechai Gutnick, and Pini Althaus, captioned Ramco Asset Management, LLC v. USA Rare Earth, LLC, C.A. No. 2022-0665-SG (as amended, the “Complaint”). After motion practice and argument, the court dismissed all claims, except for Ramco’s alleged breach of contract claim and alleged breach of good faith and fair dealing as asserted against USARE OpCo. Also as previously disclosed, on April 1, 2025, the Company received notice from Stewart Kleiner (Managing Member of Ramco and Grantor of Dinsha Dynasty Trust) asserting that a milestone triggering payment of certain equity outlined in a May 10, 2019 advisory agreement (the “Milestone Payment Notice”) had been achieved as a result of the Company’s reverse merger with Inflection Point Acquisition Corp. II. On July 1, 2025, Ramco, DinSha Dynasty Trust, Mr. Kleiner, the Company and USARE OpCo entered into a settlement agreement and release pursuant to which, in full settlement of the Complaint and the Milestone Payment Notice, amongst other things, the Company agreed to issue 159,000 shares of Common Stock to DinSha Dynasty Trust and USARE OpCo agreed to pay $150,000 to Ramco. The settlement agreement is expressly not to be construed as an admission of liability by USARE OpCo or the Company.
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| USA RARE EARTH, INC. | ||
| Date: July 1, 2025 | By: | /s/ William Robert Steele Jr. |
| Name: | William Robert Steele Jr. | |
| Title: | Chief Financial Officer | |
2
FAQ
Why did Rocket Companies (RKT) file a Form S-3ASR on July 1 2025?
How many Rocket shares are being registered and what is the dilution percentage?
Will Rocket receive cash from this registration?
Is the Redfin acquisition completed?
What risks does Rocket highlight in the prospectus?
Where is Rocket’s Class A stock listed and under what ticker?
What happens to the Class A shares if the options are not exercised?
