Latest news with #10XFacility
Yahoo
17-07-2025
- Business
- Yahoo
MP Materials Announces Commencement of Proposed $500 Million Public Offering of Common Stock
LAS VEGAS, July 16, 2025--(BUSINESS WIRE)--MP Materials Corp. (NYSE: MP) ("MP Materials" or the "Company") today announced that it has commenced a $500 million underwritten public offering (the "Offering") of its common stock. All shares of common stock to be sold in the Offering will be offered by the Company. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. MP Materials expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock to be sold in the Offering, solely to cover over-allotments, at the public offering price, less the underwriting discount. The Company currently intends to use the net proceeds from the Offering to fund the acceleration and expansion of our operations, including the 10X Facility, for strategic growth opportunities and for general corporate purposes. J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC are acting as lead joint book-running managers of the Offering. Morgan Stanley & Co. LLC is also acting as a book-running manager. A shelf registration statement relating to the offered securities was filed with the Securities and Exchange Commission (the "SEC") and was automatically effective upon filing on February 28, 2025. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website, located at Copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, from the offices of J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus-eq_fi@ and postsalemanualrequests@ or the offices of Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282, Attention: Prospectus Department, by telephone at (866) 471-2526, or by email at prospectus-ny@ This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About MP Materials MP Materials (NYSE: MP) is 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. We extract and refine materials from one of the world's richest rare earth deposits in California and manufacture the world's strongest and most efficient permanent magnets. Our products enable innovation across critical sectors of the modern economy, including transportation, energy, robotics, defense, and aerospace. Forward-Looking Statements This communication includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of the words such as "estimate," "plan," "shall," "may," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "target," or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, expectations regarding the proposed offering of our common stock and the use of proceeds therefrom. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of our management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of MP Materials. These forward-looking statements are subject to a number of risks and uncertainties, including, without limitation, those discussed in MP Materials' Form 10-K filed with the SEC on February 28, 2024, Form 10-Q filed with the SEC on May 9, 2025 and Current Reports on Form 8-K filed with the SEC, in each case under the heading "Risk Factors" and other documents filed by MP Materials with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that MP Materials does not presently know or that MP Materials currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect MP Materials' expectations, plans or forecasts of future events and views as of the date of this press release. MP Materials anticipates that subsequent events and developments will cause MP Materials' assessments to change. However, while MP Materials may elect to update these forward-looking statements at some point in the future, MP Materials specifically disclaims any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing MP Materials' assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. View source version on Contacts Investors: Martin SheehanIR@ Media: Matt Sloustchermedia@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
17-07-2025
- Business
- Business Wire
MP Materials Announces Pricing of Upsized $650 Million Public Offering
LAS VEGAS--(BUSINESS WIRE)--MP Materials Corp. (NYSE: MP) ('MP Materials' or the 'Company') announced today the pricing of an upsized underwritten public offering of common stock. The Company is selling 11,818,181 shares of common stock in the Offering at a public offering price of $55.00 per share. The aggregate gross proceeds to the Company from the Offering are expected to be approximately $650 million, before deducting underwriting discounts and commissions and other offering expenses. All shares of common stock to be sold in the offering will be offered by the Company. 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, solely to cover over-allotments, at the public offering price per share, less underwriting discounts and commissions. The Company currently intends to use the net proceeds from the Offering to fund the acceleration and expansion of our 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 the satisfaction of customary closing conditions. J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC are acting as lead joint book-running managers of the Offering. Morgan Stanley & Co. LLC is also acting as a book-running manager. A shelf registration statement relating to the offered securities was filed with the Securities and Exchange Commission (the 'SEC') and was automatically effective upon filing on February 28, 2025. A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed, and a final prospectus supplement and accompanying prospectus relating to the offering will be filed, with the SEC and will be available on the SEC's website, located at Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, from the offices of J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus-eq_fi@ and postsalemanualrequests@ or the offices of Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282, Attention: Prospectus Department, by telephone at (866) 471-2526, or by email at prospectus-ny@ This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About MP Materials MP Materials (NYSE: MP) is 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. We extract and refine materials from one of the world's richest rare earth deposits in California and manufacture the world's strongest and most efficient permanent magnets. Our products enable innovation across critical sectors of the modern economy, including transportation, energy, robotics, defense, and aerospace. Forward-Looking Statements This communication includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of the words such as 'estimate,' 'plan,' 'shall,' 'may,' 'project,' 'forecast,' 'intend,' 'expect,' 'anticipate,' 'believe,' 'seek,' 'target,' or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, expectations regarding the proposed offering of our common stock and the use of proceeds therefrom, and the closing of the public offering. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of our management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of MP Materials. These forward-looking statements are subject to a number of risks and uncertainties, including, without limitation, those discussed in MP Materials' Form 10-K filed with the SEC on February 28, 2024, Form 10-Q filed with the SEC on May 9, 2025 and Current Reports on Form 8-K filed with the SEC, in each case under the heading 'Risk Factors,' and other documents filed by MP Materials with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that MP Materials does not presently know or that MP Materials currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect MP Materials' expectations, plans or forecasts of future events and views as of the date of this press release. MP Materials anticipates that subsequent events and developments will cause MP Materials' assessments to change. However, while MP Materials may elect to update these forward-looking statements at some point in the future, MP Materials specifically disclaims any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing MP Materials' assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Business Insider
17-07-2025
- Business
- Business Insider
MP Materials announces $500M common stock offering
MP Materials (MP) announced that it has commenced a $500M underwritten public offering of its common stock. All shares of common stock to be sold in the offering will be offered by the company. The company currently intends to use the net proceeds from the offering to fund the acceleration and expansion of its operations, including the 10X Facility, for strategic growth opportunities and for general corporate purposes. J.P. Morgan Securities and Goldman Sachs & Co. are acting as lead joint book-running managers of the offering. Morgan Stanley & Co. is also acting as a book-running manager. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Mint
10-07-2025
- Business
- Mint
MP Materials wins big rare-earth contract with Pentagon, here's how the stock market reacted
MP Materials' stock rocketed over 50% on Thursday after sealing a huge deal with the Pentagon. The US Defense Department will become the company's biggest owner by buying $400 million of special stock, grabbing a 15% stake. This cash will help MP Materials build a new magnet factory called the "10X Facility" and upgrade its California mine. The government also promised to buy all magnets from the new plant for 10 years and set a minimum price for key materials. Big banks JPMorgan and Goldman Sachs are chipping in $1 billion, too. This mega partnership aims to make America less reliant on other countries for super-important minerals. Rare earth metals are hidden stars in gadgets and weapons. They make magnets inside electric cars, cell phones, drones, and even F-35 fighter jets. Right now, the U.S. gets nearly 70% of these minerals from China, which tightened exports recently, causing a scary 75% drop in shipments last month. As of now, MP Materials runs America's only major rare earth mine at Mountain Pass, California. By teaming up with the Pentagon, they'll boost U.S. production and create a full supply chain from digging ore to making magnets. CEO James Litinsky praised the Trump administration for 'accelerating American supply chain independence'. The '10X Facility', MP's second magnet plant, will start by 2028 at a location still secret. Along with their Texas plant being built now, it'll help America make its own magnets instead of importing them. MP also gets a $150 million loan to upgrade its Mountain Pass mine, adding heavy rare earth processing. China currently controls 96% of global magnet output, so this move is a big counter-punch. As one analyst noted, MP is "in the driver's seat" as the only major U.S. rare earth producer. The stock surge adds to a 92% gain already this year, showing investor excitement. This isn't just about defense, it's about clean energy too. Those powerful magnets go into wind turbines and electric vehicles, helping green goals. With China using export permits as a trade weapon, the U.S. is fighting back with cash and contracts. The deal follows President Trump's March order to boost critical minerals using emergency powers. Experts say rare earth prices are currently too low for new mines without government help, making this partnership essential. If successful, MP Materials could turn American rocks into high-tech jobs and security, powering everything from iPhones to submarines
