USA Rare Earth hopes to raise up to $500m in IPO Pini Althaus, CEO, USA Rare Earth. Image from USA Rare Earth. Reuters. The company, which is developing the Round Top rare earths deposit in Texas, is considering an initial public offering (IPO) or going public via a special purpose acquisition company (SPAC), though it does not plan to issue debt, according to the source and documents. Sign Up for the Mining News Digest Sign Up Investors are growing more interested in exposure to rare earths, 17 minerals used to build electronics Any offering is expected to raise between $300 million to $500 million, which would be used in part to finance the Texas mine and processing facility. The company hopes to have it operating by 2023.