Mentioned:
The need for rare earth supply within the United States of America continues to grow. Which is exactly why MP Materials has just raised a new mega round of funding.
What’s happening:
- MP Materials (NYSE: MP) has raised $650M USD in a new equity financing round
- The new funding round was led by Goldman Sachs and Morgan Stanley
By the numbers:
- MP Materials issued 11.8M common shares at $55.00 USD per share
Why it matters:
- The United States Department of Defense just recently took their first ever equity stake in a publicly traded rare earth company with a $400M USD strategic investment into MP Materials
Going deeper:
- MP Materials also made major waves when they just recently cut a new $500M USD deal with Apple (NASDAQ: AAPL) in which MP Materials will supply Apple with rare earth magnets for the manufacturing of new iPhones and Mac products
