MP Materials launches $500 million public stock offering

MP Materials Corp. (NYSE: MP) announced it has commenced a $500 million underwritten public offering of its common stock. The rare earth materials company will sell all shares in the offering, with no existing shareholders participating in the sale.

The company plans to grant underwriters a 30-day option to purchase up to an additional 15% of the shares to cover over-allotments at the public offering price, less underwriting discounts. The offering remains subject to market conditions, with no assurance regarding completion, timing, or final terms.

MP Materials stated it intends to use net proceeds to fund acceleration and expansion of operations, including its 10X Facility, for strategic growth opportunities and general corporate purposes. The 10X Facility represents part of the company's manufacturing expansion plans.

J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC serve as lead joint book-running managers for the offering, while Morgan Stanley & Co. LLC acts as a book-running manager.

The company filed a shelf registration statement with the Securities and Exchange Commission that became automatically effective upon filing on February 28, 2025. A preliminary prospectus supplement and accompanying prospectus will be filed with the SEC and made available on the agency's website.

MP Materials operates as a rare earth producer with operations spanning mining, processing, metallization and magnet manufacturing. The company extracts materials from a rare earth deposit in California and manufactures permanent magnets for use in transportation, energy, robotics, defense and aerospace applications.

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