USA Rare Earth to go public via SPAC merger with Inflection Point Acquisition Corp in a $870m deal.

USA Rare Earth, a supplier of rare earth element magnets for green energy and technology, agreed to go public via SPAC merger with Inflection Point Acquisition Corp, a special purpose acquisition company, in a $870m deal. “We are pleased to announce our business combination with USA Rare Earth. USARE’s strategic vision, experienced team and integrated supply chain are approaching scale at an inflection point for the critically important domestic industry. We believe that by becoming the first large scale integrated magnet producer in North America, the Company is poised to be a strategic national asset that mines rare earth material for integrated magnet production serving the technological, industrial, and defense end markets,” Michael Blitzer, Inflection Point CEO.