MP Materials $148.75 million secondary offering
Davis Polk advised the sole book-running manager in connection with an underwritten secondary offering of 4,250,000 shares of common stock of MP Materials Corp., for gross proceeds of $148.75 million. MP Materials’ common stock is listed on the New York Stock Exchange under the symbol “MP.”
MP Materials is the owner and operator of Mountain Pass, the only rare earth mining and processing site of scale in North America, and currently produces a rare earth concentrate product comprising approximately 15% of global production. The company aims to restore a secure and sustainable domestic rare earth supply chain for critical sectors of the modern global economy.
The Davis Polk cororate team included partner Michael Kaplan and associates Stephen A. Byeff and Christian Knoble. The environmental team included counsel David A. Zilberberg. The tax team included partner Mario J. Verdolini and associate Jacob M. Donnelly. All members of the Davis Polk team are based in the New York office.