MP Materials announces $500M convertible note offering and $300M share buyback

MP Materials Corp. / DE

$500M convertible senior notes due 2030 offered privately to QIBs; initial purchasers may buy additional $75M.
Up to $300M share repurchase authorized, effective for 1 year with no minimum purchase.
Net proceeds to fund capped call costs, repurchase $300M in stock, and buy back a portion of 0.25% 2026 convertible notes.
Notes mature March 1, 2030; interest payable semi-annually; convertible into cash, shares, or combination at MP's election.
Capped call transactions entered to reduce potential dilution upon conversion; derivative activity may affect stock price.

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