Strategic Materials
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USUnited StatesUS Department of Defense

MP Materials Corp.

CommitmentEquityPublicDisbursed

fin-us-dod-mp-2025-preferred-equity

Reading this record

What the evidence says — and does not say

What kind of figure?
CommitmentMoney, or a money-like promise, committed to a named recipient or project. The only role ever summed.
What has happened legally?
DisbursedThe money has been paid out.
Has money been paid?
Follow the payment evidenceThe source-linked current status records disbursement. Check the cited history for amount, timing and scope; it does not establish physical construction.
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 is a commitment role, but the financial status still determines legal standing and payment. Funding and verified industrial outcomes remain separate. A financial record alone never independently verifies construction, commissioning or production. Read SMPT's counting and evidence rules.

Amount

USD400 million

As stated “$400 million equity investment”

USD 400,000,000 · Exact · Currency read from the issuing government

Record

Provider
US Department of DefenseU.S. Department of DefenseGovernment body
Legal authority
Defense Production Act Title III, 50 U.S.C. § 4531 et seq., "as well as other authorities"
Programme
None named
Recipient
MP Materials Corp.MP Materials Corp.Company
Project
Not stated
Facility
Not stated
Location
Not stated
Stages
Separation, Processing, Component manufacturingSeveral stages, split not 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

  1. Contracted

    Subscription Agreement entered into on the Effective Date; 400,000 shares of Series A Cumulative Perpetual Convertible Preferred Stock to be issued on the Closing Date, 11 July 2025.

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

  2. Disbursedcurrent

    "In July 2025, the Company issued 400,000 shares of newly designated Series A Cumulative Perpetual Convertible Preferred Stock ... to the DoW for cash consideration of $400.0 million." The day is not stated in this note; the Form 8-K put the Closing Date at 11 July 2025.

    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 term7 % per year“Shares of Series A Preferred Stock accrue cumulative dividends at a rate of 7.0% per year ... payable solely in-kind”Dividend rate on the preferred stock.MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)
Other termUSD 30.03 per share“a warrant ... for a period of 10 years from the Closing Date for up to 11,201,659 shares of Common Stock, at an initial exercise price of $30.03 per share”The warrant issued to DoD alongside the preferred stock; the warrant carries no separate purchase amount.MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)

Notes

DoD's convertible preferred stock and warrant together represent 15% of issued and outstanding common stock as of the Closing Date, on an as-converted and as-exercised basis (Form 8-K). Stage attribution is the recipient's stated intended use of proceeds.

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, Series A Preferred Stock and Warrant
    View source dossier →

  2. 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
    Legal authority
    Evidence level
    Ambiguous
    Location in document
    Item 8.01, risk factors
    Qualification
    The company reports that it received assurances from DoD that it has authority under DPA Title III and other authorities; this is the recipient's account, not a government statement.
    View source dossier →

  3. MP Materials announces transformational public-private partnership with the Department of Defense

    MP Materials

    Fields supported
    Supply-chain stages
    Evidence level
    Explicit
    Location in document
    Paragraph on use of proceeds
    Qualification
    The recipient's stated intended use: "to expand its existing rare earths separation and processing capabilities, as well as its magnet production capacity".
    View source dossier →

  4. MP Materials Corp. Form 10-Q for the quarterly period ended June 30, 2026

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

    Fields supported
    Status
    Evidence level
    Explicit
    Location in document
    Note 12, Redeemable Preferred Stock
    View source dossier →