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SPAC · Merger completed

Inflection Point Acquisition Corp. II

Business combination with USA Rare Earth, LLC

Inflection Point Acquisition Corp. II is a blank-check company (SPAC) that completed its initial public offering on May 26, 2023, listing on Nasdaq Global Market. It completed its business combination with USA Rare Earth, LLC on Mar 13, 2025; the combined company is USA Rare Earth, Inc. (USAR). Sutter led the IPO, with Donna Karan Company and ThredUp. White & Case advised the SPAC and Ellenoff Grossman & Schole advised the underwriters on the IPO.

USA Rare Earth, LLC is building a vertically integrated, domestic supply chain for producing rare earth element magnets in the United States. It is the target of a proposed business combination with Inflection Point Acquisition Corp. II.

Status
Merger completed
IPO date
May 26, 2023
IPO exchange
Nasdaq Global Market
Target
USA Rare Earth, LLC
Announced
Aug 22, 2024
Closed
Mar 13, 2025
Combined company
USA Rare Earth, Inc. (USAR)
IPO underwriters
Sutter, Donna Karan Company, ThredUp, Goldman Sachs, TSG Consumer Partners, Revolve and MeUndies
SPAC counsel (IPO)
White & Case and Conyers Dill & Pearman
Underwriters' counsel (IPO)
Ellenoff Grossman & Schole

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