USA Rare Earth, Inc. agreed to acquire Texas Mineral Resources Corp. (TMRC) on March 4, 2026. The companies issued supplemental disclosures following legal challenges. TMRC stockholders filed two lawsuits in July 2026. These lawsuits alleged misleading initial proxy materials.
The companies released additional information in response to the lawsuits and demand letters. This information included internal financial projections for the Round Top Project. USA Rare Earth and TMRC stated the supplemental disclosure was not legally required. They provided it to avoid potential merger delays and litigation costs. The transaction remains pending TMRC stockholder approval. It aims to give USA Rare Earth full ownership and operational control of the Round Top heavy rare earth and critical minerals project.