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Benzinga
Benzinga
Business
Adam Eckert

MP Materials Stock Is Sliding After Hours: Here's Why

MP Materials MP Apple Department of Defense
MP Materials Calciner Area 2

MP Materials Corp (NYSE:MP) shares are trading lower in after-hours on Wednesday after the company announced a proposed public offering.

What Happened: MP Materials said it commenced a $500 million underwritten public offering of its common stock. The company expects to grant the underwriters a 30-day option to buy up to an additional 15% of the shares sold in the offering.

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