USA Rare Earth, Inc. (Nasdaq: USAR) (USAR) has announced a definitive agreement to acquire 100% of Serra Verde Group (Serra Verde), owner of the Pela Ema rare earth mine and processing plant in Goiás, Brazil. The transaction consideration consists of US$300 million in cash and 126.849 million shares of newly issued USAR common stock, which at USAR’s closing share price of US$19.95 as of Friday, April 17, 2026, implies an equity value of approximately US$2.8 billion for Serra Verde. The acquisition is expected to close in the third quarter of 2026, subject to customary closing conditions and regulatory approvals.

Latham & Watkins LLP advised USA Rare Earth in the transaction with a corporate deal team led by Los Angeles partners Steven B. Stokdyk and David A. Zaheer, with associates Dylan Towns, Will Coughlin, Drew K. O’Sullivan, Diego Roberto Guimaraes Blandon, and Madeline Hodges.