MP Materials elects cash-and-stock settlement for 2026 convertible notes

MP Materials Corp. / DE

Irrevocably elected Combination Settlement for 0.25% Convertible Senior Notes due 2026, effective March 20, 2024.
Per $1,000 principal, converting noteholders receive up to $1,000 in cash plus shares for any excess conversion value.
Election applies to all conversion dates on or after March 20, 2024; no change to interest rate or principal.
Settlement method change implemented under Section 14.02(a)(vi) of the Indenture.

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