MP - MP Materials slides on notes secondary stock offering

MP Materials (MP) proposes $500M offering of its green convertible senior notes due 2026 to institutional investors.Initial purchasers' overallotment option will be an additional $75M notes. The company intends to use the net proceeds for general corporate purposes or invest the net proceeds in marketable securities or other investments.In addition, MP Materials has announced a secondary stock offering of 8M shares with underwriters' overallotment of to purchase up to an additional 1.2M shares.Deutsche Bank Securities and BofA Securities are acting as joint lead book-running managers for the proposed offering.Stock down 5% post-market.Previously (March 19): MP Materials jumps after Q4 adjusted EBITDA nearly quadrupled

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MP Materials slides on notes, secondary stock offering