Molycorp boosts offering to 45M shares, priced at $5 each

|By:, SA News Editor

Molycorp (MCP) says its increased offering of 45M shares priced at $5/share, a 10% discount to yesterday’s close, raising $225M.

MCP had outlined plans to offer $200M in stock to fund spending at its Mountain Pass, Calif., facility under construction.

Shares -3.4% premarket, after yesterday's 21% drubbing.