Roberts & Ryan, Inc., America’s first Service-Disabled Veteran-Owned institutional broker-dealer, announced today that it served as lead-left bookrunning manager and representative of the underwriters for the initial public offering of IMC Rare Earths Ltd (“IMC”).
To Roberts & Ryan’s knowledge, the offering represents the first initial public offering led by a Service-Disabled Veteran-Owned broker-dealer and the first U.S. IPO led-left by a diversity-designated investment bank.
The offering consisted of 4,000,000 ordinary shares at a public offering price of $5.00 per share, generating gross proceeds of approximately $20 million before underwriting discounts, commissions and offering expenses. IMC’s ordinary shares began trading on the NYSE American under the ticker symbol “IMC” on Wednesday, July 29, 2026.
Roberts & Ryan was selected based on its equity capital markets, institutional equity sales and trading and public-offering execution capabilities, as well as its understanding of the geopolitical and national-security issues affecting global critical-minerals supply chains.
The firm’s perspective is supported by an advisory network that includes retired generals and admirals from the United States Armed Forces and other senior leaders with experience in national security, defense, logistics and strategic supply chains.
“It is an honor to lead this historic IPO for IMC,” said Edward D’Alessandro, Chief Executive Officer of Roberts & Ryan. “IMC is pursuing a project that could become an important source of critical rare earth elements for the United States and its allies. Roberts & Ryan prides itself on being an institutional-quality broker-dealer with the experience, distribution platform and capital markets capabilities necessary to lead complex public offerings.”
“This transaction demonstrates that a Service-Disabled Veteran-Owned investment bank can do more than participate in an underwriting syndicate,” D’Alessandro continued. “We can lead the offering, manage the process, engage institutional investors and deliver the execution expected from a leading equity capital markets firm.”
IMC is developing the Itarantim Project, an ionic adsorption clay rare earth project located in Brazil. IMC believes the project has the potential to become one of the largest sources outside China and Myanmar of dysprosium and terbium, commonly referred to as DyTb, and neodymium and praseodymium, commonly referred to as NdPr. These elements are essential to high-performance permanent magnets used in advanced defense systems, drones, robotics, electric vehicles, renewable energy infrastructure, semiconductors and other strategic technologies.
IMC intends to position the Itarantim Project as a potential supplier to U.S. and allied commercial, governmental and defense-related supply chains. The Company expects to use the net proceeds from the offering to advance exploration, metallurgical testing, technical studies, permitting and development activities, as well as for working capital and general corporate purposes.
The relationship between IMC and Roberts & Ryan was brought together by Robert D. Giannattasio, a partner at Gibson, Dunn & Crutcher LLP who has longstanding relationships with both organizations. Gibson Dunn served as counsel to IMC in connection with the offering.
