MP Materials Announces Proposed Offering of $500M Convertible Notes

Author: Benzinga Newsdesk | March 04, 2024 08:03am

MP Materials Corp. (NYSE:MP) ("MP Materials" or the "Company") today announced that it plans to offer, subject to market and other conditions, $500 million principal amount of its Convertible Senior Notes due 2030 (the "notes") through a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). MP Materials expects to grant the initial purchasers an option to purchase, for settlement within a 13-day period beginning on, and including, the date MP Materials first issues the notes, up to an additional $75 million principal amount of notes.

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