USA Rare Earth, Inc.
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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FY2024 · Filed Mar 31, 2025
USAR$8.76+6.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Statements of Cash Flows
STATEMENT OF CASH FLOWS
| For Year Ended December 31, | For the Period from March 6, 2023 (inception) through December 31, | |
|---|---|---|
| 2024 | 2023 | |
| Cash Flows from Operating Activities: | ||
| Net income | $7,899,035 | $6,748,069 |
| Adjustments to reconcile net income to net cash used in operating activities: | ||
| Formation costs paid by Sponsor in exchange for issuance of Class B ordinary shares | — | 5,845 |
| Dividend income earned on marketable securities held in Trust Account | (12,019,932) | (7,721,518) |
| Loss on issuance of Forward Purchase Agreements | 484,843 | — |
| Change in fair value of Forward Purchase Agreements | (435,568) | — |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses | 3,435 | (9,783) |
| Prepaid insurance | 162,164 | (205,604) |
| Accounts payable and accrued expenses | 2,507,459 | 234,985 |
| Net cash used in operating activities | (1,398,564) | (948,006) |
| Cash Flows from Investing Activities: | ||
| Investment of cash into Trust Account | — | (251,250,000) |
| Cash withdrawn from Trust Account in connection with redemption | 246,916,015 | — |
| Net cash provided by (used in) investing activities | 246,916,015 | (251,250,000) |
| Cash Flows from Financing Activities: | ||
| Proceeds from sale of Units, net of underwriting discounts paid | — | 245,600,000 |
| Proceeds from sale of private placements warrants | — | 7,650,000 |
| Proceeds from convertible promissory note – related party | 1,200,000 | — |
| Repayment of promissory note – related party | — | (179,665) |
| Refund of offering costs included in accrued offering costs | — | 75,000 |
| Payment of offering costs | (75,000) | (671,664) |
| Redemption of ordinary shares | (246,916,015) | — |
| Net cash (used in) provided by financing activities | (245,791,015) | 252,473,671 |
| Net Change in Cash | (273,564) | 275,665 |
| Cash – Beginning of period | 275,665 | — |
| Cash – End of period | $2,101 | $275,665 |
| Supplemental disclosure of cash flow information: | ||
| Deferred offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares | $— | $11,000 |
| Prepaid services contributed by Sponsor in exchange for issuance of Class B ordinary shares | $— | $8,155 |
| Deferred offering costs paid through promissory note – related party | $— | $179,213 |
| Accretion of Class A ordinary shares to redemption value | $12,019,932 | $29,242,197 |
| Deferred underwriting fee payable | $— | $13,100,000 |
| Forfeiture of Founder Shares | $— | $8 |
| Formation costs paid by Sponsor in exchange for issuance of Class B ordinary shares | $— | $5,845 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.