DoD $400 Million Preferred Equity Investment in MP Materials (July 2025)

As part of the July 10, 2025 public-private partnership announcement, the U.S. Department of Defense agreed to purchase $400 million of a newly-created series of MP Materials convertible preferred stock, convertible at $30.03 per share, together with a warrant to purchase additional common shares at the same price; the purchase was scheduled to close on July 11, 2025. The partnership spans Mountain Pass separation, the Independence magnet facility, and the planned 10X Facility.

Facts on this page last re-verified Aug 11, 2026 — the oldest verification date among its current claims. How we verify.