03:00 PM EDT, 07/17/2025 (MT Newswires) -- (Updates with stock price in headline and first paragraph.)

MP Materials ( MP ) shares were up more than 2% in recent Thursday trading after the company said it has priced its upsized underwritten public offering of over 11.8 million shares at $55 per share, for expected gross proceeds of about $650 million.

The company also granted its underwriters a 30-day option to buy up to about 1.8 million additional shares.

MP Materials ( MP ) plans to use the proceeds to accelerate and expand operations, including the development of its 10X Facility, as well as for strategic growth and general corporate purposes. The offering is expected to close on July 18.

Price: 60.24, Change: +1.69, Percent Change: +2.89