{
  "commitment": {
    "id": "fin-us-dod-mp-2025-additional-preferred-option",
    "eventId": "evt-us-dod-mp-2025",
    "relationships": [],
    "instrument": "equity",
    "valueRole": "funding_option",
    "capitalSource": "public",
    "amount": {
      "value": "350000000",
      "currency": "USD",
      "qualifier": "up_to",
      "amountAsStated": "a commitment for up to $350 million in additional funding in the form of additional Series A Preferred Stock",
      "currencyBasis": "issuer_context"
    },
    "provider": "US Department of Defense",
    "providerJurisdiction": "us",
    "providerOrgIds": [
      "org-us-dod"
    ],
    "legalAuthority": null,
    "programmeId": null,
    "recipient": "MP Materials Corp.",
    "recipientOrgIds": [
      "org-mp-materials"
    ],
    "project": null,
    "projectId": null,
    "facility": null,
    "locations": [],
    "stages": [],
    "stageAllocation": "not_stated",
    "materialIds": [
      "rare-earth-elements",
      "ndfeb-magnets"
    ],
    "materialAttribution": "tracked_only",
    "untrackedMaterialsAsStated": [],
    "financialStatusHistory": [
      {
        "status": "contracted",
        "date": "2025-07-09",
        "sourceId": "src-dod-mp-transaction-agreement-2025",
        "note": "The Transaction Agreement that grants the Company this right was executed on the Effective Date. An executed option is not an exercise: no source in the corpus records one, or any payment under it."
      }
    ],
    "implementationStatusHistory": [],
    "terms": [
      {
        "kind": "other",
        "value": "350000000",
        "qualifier": "up_to",
        "currency": "USD",
        "unit": null,
        "asStated": "the Company’s alternatives including having a right to fund up to the full $350,000,000 of such additional proceeds by selling to DoD additional shares of Series A Preferred Stock on the same terms as the initial purchase or otherwise electing to obtain $350,000,000 under the terms and conditions of the committed financing provided by JPMorgan and Goldman Sachs",
        "sourceId": "src-dod-mp-transaction-agreement-2025",
        "note": "The option and its alternative. The filing does not say which the Company chose."
      },
      {
        "kind": "duration",
        "value": "45",
        "qualifier": "exact",
        "currency": null,
        "unit": "days after the Closing Date",
        "asStated": "the Company shall select and fund from available alternatives on or prior to the date that is 45 days after the Closing Date, additional financing with net proceeds of at least $350,000,000 (the “Funding Allocation”)",
        "sourceId": "src-dod-mp-transaction-agreement-2025",
        "note": "The election window. The corpus records neither the Closing Date nor the election."
      }
    ],
    "outcomes": [],
    "evidence": [
      {
        "sourceId": "src-dod-mp-transaction-agreement-2025",
        "supports": [
          "instrument",
          "value_role",
          "capital_source",
          "amount",
          "provider",
          "recipient",
          "materials",
          "status",
          "terms"
        ],
        "evidence": "explicit",
        "locator": "Introductory paragraph; Item 1.01, Transaction Agreement (Funding Allocation)",
        "note": null
      }
    ],
    "notes": "A funding option, not committed money: the Company could fund up to the full $350 million of its Funding Allocation by selling additional preferred stock to DoD, or elect to obtain it under the JPMorgan / Goldman Sachs committed financing instead, within 45 days of the Closing Date. MP's Form 10-K for 2025 reports 400,000 Series A shares issued in 2025 and outstanding at 31 December 2025, the number issued at closing, and its 10-Q for the quarter to 30 June 2026 still reports 400,000; the bank Commitment Letter expired undrawn on 26 August 2025. Neither filing mentions the Funding Allocation or states that the option was exercised or lapsed, so no exercise and no lapse is recorded; the row is listed apart and never summed. An exercise would be recorded as its own commitment drawn from this row."
  },
  "event": {
    "id": "evt-us-dod-mp-2025",
    "date": "2025-07-10",
    "jurisdiction": "us",
    "titleEn": "DoD–MP Materials public-private partnership for rare earth magnet supply"
  },
  "parents": [],
  "children": [],
  "sources": [
    {
      "id": "src-dod-mp-transaction-agreement-2025",
      "title": "MP Materials Corp., Form 8-K (Transaction Agreement with the Department of Defense)",
      "publisher": "MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)",
      "url": "https://www.sec.gov/Archives/edgar/data/1801368/000119312525157310/d43796d8k.htm",
      "language": "en",
      "datePublished": "2025-07-10",
      "dateAccessed": "2026-10-03",
      "sourceType": "other",
      "confidence": "primary",
      "notes": "The binding disclosure of the DoD deal terms, filed with the SEC. Read in full 2026-08-12 (EDGAR returns 403 without a declared user agent). Confirms verbatim: the Transaction Agreement was entered into on 9 July 2025 (the 'Effective Date'); a commitment for a $150 million loan to support expansion of heavy rare earth separation, to be extended by DoD within 30 days following closing; a quarterly payment per kilogram of NdPr equal to the shortfall between $110 per kg and the benchmark quarterly average price; a 10-year offtake agreement for magnet production from the 10X Facility; and a warrant issued to DoD. Source type 'other' follows the convention used for src-mp-dod-2025 (company document rather than a government instrument), but this is the filed agreement disclosure rather than a press release. Note the event is dated 2025-07-10, the announcement date, while the agreement's effective date is 2025-07-09. Rebuilt 2026-08-12 after the record was lost to an accidental working-tree revert; re-verified against the filing. Full original filing reread on 3 October 2026 for the 10X lifecycle review; the reporting date is not treated as a construction commencement date."
    }
  ]
}