Overview

• The company commenced an underwritten offering of $500 million in common stock and granted underwriters a 30-day option to purchase up to 15% more shares
• Net proceeds will fund the acceleration and expansion of its domestic rare earth magnet operations and support strategic growth initiatives
• The equity raise follows a $400 million Department of Defense stake and purchase guarantees and a separate $500 million investment from Apple
• MP Materials shares declined about 6% in after-hours trading, retracing gains from recent record highs driven by the DoD and Apple deals
• Magnet shipments earmarked for hundreds of millions of Apple devices remain slated to begin in 2027, cementing long-term supply commitments