American #RareEarths Producer #MPMaterials Raising $500MM via #SPAC & #PIPE In Growth Capital

The bankers are getting their product to market quickly.

MP Materials to merge with Fortress Value Acquisition Corp., SPAC-special purpose acquisition company- sponsored by an affiliate of Fortress Investment Group LLC.

The transaction includes a $200 million fully committed common stock private Investment in public equity (PIPE) deal at $10.00 per share, anchored by Slate Path Capital, Chamath Palihapitiya and Omega Family Office.

The merger is expected to be completed in the fourth quarter of this year and will be listed on the New York Stock Exchange under the new ticker symbol MP.

See the whole article on Forbes here: https://www.forbes.com/sites/jimvinoski/2020/07/17/american-rare-earth-elements-producer-mp-materials-is-going-public-and-raising-500-million-in-growth-capital/

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