MP Prices $650M 3.00% Convertible Notes Offering

Author: Benzinga Newsdesk | March 05, 2024 07:18am

MP Materials Corp. (NYSE:MP) ("MP Materials" or the "Company") today announced the pricing of an offering of $650 million principal amount of its 3.00% 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 has also granted 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 $97.5 million principal amount of notes. The offering was upsized from the previously announced offering of $500 million principal amount. The offering is expected to close on March 7, 2024, subject to customary closing conditions.

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