MP Materials (NYSE: MP) is down 5.04% in pre-market trading on Thursday, July 17, 2025, with shares priced at $55.60, compared to the previous closing price of $58.55.
The drop follows the announcement of an upsized underwritten public offering of 11,818,181 common stock shares priced at $55.00 each, expected to generate approximately $650 million in gross proceeds. The company intends to use the net proceeds to accelerate and expand operations, including its 10X Facility, as well as for general corporate purposes. The offering is slated to close on July 18, 2025.
