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  "documentTitle": "MP Materials | SPAC Presentation Deck | 49 slides",
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  "notes": "The slide uses a 'replacement cost' argument to suggest the company is undervalued.",
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      "text": "Sources: Balyasny Capital Advisors, Management records. Notes: 1. Excluding any outstanding warrants, unvested Sponsor Promote Shares, Seller Incentive Shares, and $10.00 / share market value and assuming no redemptions. See slide 39 for additional assumptions.",
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      "text": "Four photos of Mountain Pass facilities: Crushing Facility, Mill & Flotation, Dry Paste Tailings, Rare Earth Separation Facility.",
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      "text": "Facility list with Asset Acquisition Value and Install Year, totaling $1,697MM.",
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      "text": "MP'S ESTIMATED POST-TRANSACTION EQUITY VALUE OF $1.5BB(1) IS BELOW REPLACEMENT COST $1.7BB OF CAPITAL IN THE GROUND",
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