MP Materials issued $500 million in stocks to support the operation of the American magnet factory, previously reached a supply agreement with Apple.

On July 16th, local time, the US rare earth producer MP Materials announced the launch of a $500 million common stock public offering. All common stock shares for sale in this offering will be issued by the company. The offering is subject to market and other conditions, and there is no guarantee that the offering will be completed or when it will be completed, as well as the actual size or terms of the offering. MP Materials plans to use the net proceeds from the offering to accelerate and expand the company's business, including the production facility named 10X Facility, to support strategic growth opportunities and general corporate purposes.