Strategic Materials
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USUnited StatesUS Department of Defense

MP Materials Corp.

Funding optionEquityPublicOption executed · no exercise recorded

fin-us-dod-mp-2025-additional-preferred-option

Reading this record

What the evidence says — and does not say

What kind of figure?
Funding optionA ceiling a party may call on at its own election under an executed agreement. Listed, never summed: an executed option is not committed money. An exercise is recorded as its own commitment drawn from the option, with its own payment status.
What has happened legally?
ContractedA binding agreement has been executed. Not a payment, and not necessarily an obligation of funds: an agreement can leave that to a later step.
Has money been paid?
Follow the payment evidenceFor an option, this financial status describes the agreement granting the option, not exercise or payment. Check the option ladder and any separate drawn commitment.
What does it link to?
Project attributionNo direct registered project association is coded for this row. A project or facility may still be named in source text; absence of a link is not proof of inactivity.

This value role is not included in SMPT's public-recipient commitment totals. A ceiling, indication, private contribution or project cost is not an additional government award. A financial record alone never independently verifies construction, commissioning or production. Read SMPT's counting and evidence rules.

Amount

up toUSD350 million

As stated “a commitment for up to $350 million in additional funding in the form of additional Series A Preferred Stock”

USD 350,000,000 · Up to · Currency read from the issuing government

A funding option: a ceiling the recipient may call on under an executed agreement. An executed option is not committed money, so this figure is never added to any total. An exercise would be recorded as its own commitment drawn from this row, with its own payment status.

  1. Agreement executed — recorded

    9 Jul 2025 · MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)

  2. Option exercised — not recorded

    None recorded in the corpus

  3. Money disbursed — not recorded

    None recorded in the corpus

Record

Provider
US Department of DefenseU.S. Department of DefenseGovernment body
Legal authority
Not stated
Programme
None named
Recipient
MP Materials Corp.MP Materials Corp.Company
Project
Not stated
Facility
Not stated
Location
Not stated
Stages
Not statedNot stated
Materials
Rare earth elements (grouped)Rare-earth permanent magnets (NdFeB)Tracked materials only

Status

Financial and physical progress are separate histories. The last entry is current.

Financial · the agreement granting the option

  1. Contractedcurrent

    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.

    MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)

Implementation

No source states the physical status of a project for this row.

Terms

Operative terms as the source words them.

TermFigureAs stated
Other termup to USD 350,000,000“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”The option and its alternative. The filing does not say which the Company chose.MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)
Duration45 days after the Closing Date“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”)”The election window. The corpus records neither the Closing Date nor the election.MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)

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.

Evidence

Every populated field names the source that states it, how directly, and where.

  1. MP Materials Corp., Form 8-K (Transaction Agreement with the Department of Defense)

    MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)

    Fields supported
    Instrument · Value role · Capital source · Amount · Provider · Recipient · Materials · Status · Terms
    Evidence level
    Explicit
    Location in document
    Introductory paragraph; Item 1.01, Transaction Agreement (Funding Allocation)
    View source dossier →