Its interesting that you make a big deal about unsecured. If...

Its interesting that you make a big deal about unsecured. If institutions were worried about them not being secured they would not buy them since they only pay 3 % interest. till 2030 Well below market rates. This offer is reserved for institutions no private buyers. Then they are convertible for Stock. Did you even look at what money was for https://finance.yahoo.com/news/mp-materials-announces-share-repurchase-120000288.html If you think this is a bad deal for MP share holders read the links and explain why. it sures looks like it is a lot better than the block of stock that Lynas sold to JARE. I am sure many on this board will cheer this because few will bother to read and understand what is going on which is typical.

Look what MP is going to do with money it sure looks like this will realy help value for current stock holders. It would help Lynas stock holders if they did something to reduce the 934M shares outstanding rather than keep adding to it.

Company entered into capped call transactions to increase effective conversion premium to 100%

Company repurchased approximately 12.3 million shares of common stock using approximately $191.6 million of net proceeds, representing 6.9% of common shares outstanding prior to the transaction

Company repurchased $400.0 million of existing 2026 convertible notes using approximately $358.4 million of net proceeds

https://finance.yahoo.com/news/mp-materials-announces-pricing-650-111600206.htmlhttps://finance.yahoo.com/news/mp-materials-announces-pricing-650-111600206.html

https://finance.yahoo.com/news/mp-materials-announces-proposed-offering-120000714.html

I think you made assumptions on reading headlines without reading anything else after headlines.

One last thing I have no idea why you thought they would need money yes they lost money but only 16M US $ they still made 24 M in the year.. They have US $998M cash on hand I think they are doing just fine,

998 M cash on hand is AU$ 1,535M . how does this compare with Lynas's 686M

https://d18rn0p25nwr6d.cloudfront.net/CIK-0001801368/961242cd-2a47-4a75-bde2-a558b553b4e9.pdf