Wednesday, May 25, 2011

UPDATED: May 24: Molycorp Files Registration to Sell 11.5 Million Shares at $$57.58 max (MCP)

Update I (there will be more): "8K: Molycorp Restates Year End Financials Downward by $1.69 Mil. (MCP)"
Original post:
After bucking a down market and trading up $2.86 during yesterday's regular session the stock is down $1.67 in premarket trade at $59.00.
And here I was saying such nice things about the stock grinding off of an intermediate low.
It's the insiders bailing, no proceeds to the company:


                    Shares
                        Beneficially
                        Number of Shares
  Owned After
                Shares
  to be Sold
  Offering if
    Shares Beneficially
      Beneficially
  if Underwriters
  Underwriter’s
    Owned Prior
  Number
  Owned After
  Option is
  Option is
Name and Address of
  to Offering   of Shares
  Offering   Exercised in Full   Exercised in Full
Beneficial Owner
  Number   Percentage   Offered   Number   Percentage   Number   Number   Percentage
 
Resource Capital Funds(1)
    19,591,746       23.4 %                                                
Pegasus Entities(2)
    11,279,199       13.4 %                                                
TNA Moly Group LLC(3)
    6,152,774       7.3 %                                                
KMSMITH, LLC
    217,389       *                       *                       *
Baron Capital Group, Inc.(4)
    4,576,594       5.5 %                                                
Russell D. Ball
    9,500       *                       *                       *
Ross R. Bhappu(5)
    19,592,346       23.4 %                                                
Brian T. Dolan(5)
    19,591,746       23.4 %                                                
Charles R. Henry
    134,401       *                       *                       *
Mark S. Kristoff(6)
    6,339,890       7.6 %                                                
Alec Machiels
          *                       *                       *
Mark A. Smith(7)
    1,102,666       1.3 %                                                
Jack E. Thompson
    97,018       *                       *                       *
James S. Allen
    19,234       *                       *                       *
Ksenia A. Adams
    528       *                       *                       *
John F. Ashburn, Jr.(8)
    252,956       *                       *                       *
John L. Burba
    309,262       *                       *                       *
Alan Docter(9)
    6,341,890       7.6 %                                                
All executive officers and directors as a group (14 individuals)
    27,857,988       33.2 %                                                



(1)
As reported on Schedule 13D/A filed on March 21, 2011, includes (a) 15,627,423 shares of our common stock held by Resource Capital Fund IV L.P., of which Resource Capital Associates IV L.P. is the general partner (RCA IV GP L.L.C. is the general partner of Resource Capital Associates IV L.P.) and (b) 3,964,323 shares of our common stock held by Resource Capital Fund V L.P., of which Resource Capital Associates V L.P. is the general partner (RCA V GP Ltd. is the general partner of Resource Capital Associates V L.P.). The manner in which the investments of Resource Capital Fund IV L.P. and Resource Capital Fund V L.P. are held, and any decisions concerning their ultimate disposition, are subject to the control of an investment committee consisting of certain partners of Resource Capital Funds: Hank Tuten, James McClements, Ryan Bennett, Russ Cranswick, Mr. Bhappu and Mr. Dolan. The investment committee is appointed by each of RCA IV GP L.L.C. and RCA V GP Ltd. The investment committee has voting and investment power with respect to the shares of our common stock owned by Resource Capital Fund IV L.P. and Resource Capital Fund V L.P. The address of Resource Capital Fund IV L.P. and Resource Capital Fund V L.P. is 1400 Sixteenth Street, Suite 200, Denver, Colorado 80202.
(2)
As reported on Schedule 13D/A filed on March 29, 2011, includes (a) 6,135,886 shares of our common stock held by PP IV Mountain Pass II, LLC, (b) 2,972,111 shares of our common stock held by PP IV MP AIV 1, LLC, (c) 1,085,601 shares of our common stock held by PP IV MP AIV 2, LLC and (d) 1,085,601 shares of our common stock held by PP IV MP AIV 3, LLC. Pegasus Partners IV, L.P. controls PP IV Mountain Pass II, LLC and the general partner of Pegasus Partners IV, L.P. is Pegasus Investors IV, L.P. Pegasus Partners IV (AIV), L.P. controls PP IV MP AIV 1, LLC and the general partner of Pegasus Partners IV (AIV), L.P. is Pegasus Investors IV, L.P. The general partner of Pegasus Investors IV, L.P. is Pegasus Investors IV GP, LLC, of which Pegasus Capital LLC is the managing member. Craig Cogut is the managing member of Pegasus Capital LLC. MP IH Holdings 1 LLC controls PP IV MP AIV 2, LLC. MP IH Holdings 2 LLC controls 96.4% of PP IV MP AIV 3, LLC. The non-member manager of each of MP IH Holdings 1 LLC and MP IH Holdings 2 LLC is Pegasus Capital Advisors IV, L.P., the general partner of which is Pegasus Capital Advisors IV GP, LLC, and the sole member of...

Here's the S-1, I'll be back with more.