v3.26.1
Subsequent Events
3 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]  
Subsequent Events
14.
Subsequent Events

IPO

Subsequent to March 31, 2026, the Company completed its initial public offering (the “Offering”) of 3,333,331 shares of common stock at an initial public offering price of $19.00 per share, for gross proceeds of approximately $63.3 million. The Offering closed on May 7, 2026, and the Company received net proceeds of approximately $58.9 million before offering expenses, after deducting underwriting discounts and commissions. In connection with the Offering, the Company’s common stock began trading on the NYSE American LLC under the symbol “REA.” The Company granted the underwriters a 30‑day option to purchase additional shares of common stock and the underwriters exercised a portion of the over‑allotment option to purchase 299,789 additional shares, which settled on May 14, 2026 for net proceeds of $5.3 million.

SAFE Conversion

In connection with the completion of the Offering, all SAFE agreements automatically converted into 1,037,100 shares of the Company’s common stock in accordance with the terms of the SAFE agreements.

RSU Vesting

In connection with the completion of the Offering, outstanding RSUs that were subject to a liquidity‑based vesting condition vested in accordance with their contractual terms. As a result, 581,609 RSUs vested upon the closing of the Offering. Certain of these vested RSUs are subject to contractual lock‑up provisions and will be settled in shares of the Company’s common stock following the expiration of the applicable lock‑up period of 180 days.

BRC Loan Agreement Conversion

In connection with the completion of the Offering, the convertible related party loan was converted into 201,807 shares of common stock at a fixed conversion price of $6.55 per share.

Greenfield Agreement Conversion

In connection with the Company’s Mineral Rights Assignment and Covenants Agreement (the “Greenfield Agreement”), and following the completion of the Offering, the Company issued 19,052 shares of its common stock to Greenfield Exploration Ltda. and Focus Capital Partners Pty Ltd. The issuance represents equity consideration in lieu of cash for a portion of the contractual payment obligations triggered by the Offering, consistent with the terms of the Greenfield Agreement.

2026 Equity Incentive Plan