USA Rare Earth, Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 6, 2025
USAR$7.92-9.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Mezzanine Equity
| Three Months Ended September 30, 2025 · Nine Months Ended September 30, 2025 | ||||||
|---|---|---|---|---|---|---|
| Shares · Amount · Shares (1) · Amount (1) | ||||||
| (In thousands) | ||||||
| 12% Series A Cumulative Convertible Preferred Stock | ||||||
| Beginning balance | 3,714 | $25,242 | 2,739 | $21,173 | ||
| USARE LLC Convertible Preferred unit dividends | — | — | 84 | 1,082 | ||
| Issuance of preferred stock and warrants, net of issuance costs | — | — | 2,279 | 11,745 | ||
| Forgiveness of related party promissory note | — | — | 131 | 1,527 | ||
| Deferred offering costs | — | — | — | (3,237) | ||
| Deemed dividend and accretion to redemption value | — | 11,397 | — | 23,073 | ||
| Conversions | (1,854) | (23,367) | (3,373) | (42,091) | ||
| Ending balance | 1,860 | $13,272 | 1,860 | $13,272 | ||
| Subscription Receivable | ||||||
| Beginning balance | $— | $(1,250) | ||||
| Forgiveness of related party promissory note | — | 1,250 | ||||
| Ending balance | $— | $— | ||||
| Total Mezzanine Equity | ||||||
| Beginning balance | $25,242 | $19,923 | ||||
| Ending balance | 13,272 | 13,272 | ||||
(1)Beginning balance amounts are recast as of January 1, 2025. The shares of the Company’s preferred stock prior to the Merger have been retrospectively recast to reflect the change in the capital structure as a result of the Merger.
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