MP Materials announces new $300M share repurchase authorization

MP Materials announced that its Board of Directors has authorized a share repurchase program of up to $300M of the Company’s outstanding common stock enabling the Company to opportunistically create value for shareholders. The $300M authorization is effective for 1 year and does not require the purchase of any minimum number of shares. MP Materials may purchase shares from time to time at the discretion of management through open market purchases, privately negotiated transactions, block trades, accelerated or other structured share repurchase programs, or other means. The manner, timing, pricing and amount of any transactions will be subject to the discretion of MP Materials and may be based upon market conditions, regulatory requirements and alternative opportunities that MP Materials may have for the use or investment of its capital.