MP Materials Corp. (NYSE: MP) has announced the pricing of an upsized underwritten public offering of common stock, with the company selling 11,818,181 shares at a public offering price of $55.00 per share. The aggregate gross proceeds from the offering are expected to be approximately $650 million. The company has also granted the underwriters a 30-day option to purchase up to an additional 1,772,727 shares of its common stock.
The net proceeds from the offering will be used to fund the acceleration and expansion of the company's operations, including the 10x facility, for strategic growth opportunities, and for general corporate purposes. The offering is expected to close on July 18, 2025, subject to customary closing conditions.
J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC are acting as lead joint book-running managers of the offering, with Morgan Stanley & Co. LLC also acting as a book-running manager.
MP Materials is described as America’s only fully integrated rare earth producer, with capabilities spanning the entire supply chain from mining and processing to advanced metallization and magnet manufacturing. The company extracts and refines materials from one of the world’s richest rare earth deposits in California and manufactures the world’s strongest and most efficient permanent magnets, enabling innovation across critical sectors of the modern economy, including transportation, energy, robotics, defense, and aerospace. The market has reacted to these announcements by moving the company's shares -3.54% to a price of $60.98. For more information, read the company's full 8-K submission here.
