MP Materials Enters Public-Private Partnership With DOD

Skadden is representing MP Materials Corp. in its public-private partnership with the Department of Defense (DOD) to establish U.S. rare earth magnetics independence. With a multibillion-dollar package of investments and long-term commitments from DOD, MP will construct its second domestic magnet manufacturing facility (10X). The agreements form a comprehensive, long-term package — including preferred equity, warrants, loans, and price floor and offtake commitments — that extend for more than a decade. Stephen Arcano, Neil Stronski, Dohyun Kim and Samuel Cammer are leading the Skadden team.