Company: FEAV
Filing Date: 2025-02-03
Form Type: DEF 14A
Source: 0000950170-25-012391
Chunk: 1

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-02-03
Form: DEF 14A
Chunk 1
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 secured convertible promissory notes (the “Notes”), which, among other things, will result in all of our outstanding Notes being exchanged for newly issued shares of our Common Stock, $0.01 par value per share (the “Common Stock”) to the holders of the Notes (the “Noteholders”). This transaction is a crucial step to strengthen and simplify the Company’s balance sheet, support compliance with applicable Nasdaq listing rules and maintain the listing of our Common Stock on Nasdaq, fund our next phase of development, and ultimately construct and operate the proposed commercial-scale facility to produce boric acid. We intend to implement the restructuring and recapitalization through an out-of-court process. If the conditions precedent to the out-of-court process cannot be timely satisfied, including approval by our stockholders of certain proposals at the Special Meeting as described below, we will implement a restructuring through bankruptcy in a Pre-Packaged Chapter 11 Plan. Each of the out-of-court process and the Pre-Packaged Chapter 11 Plan are defined and described in more detail in the enclosed Proxy Statement. We believe that completing the out-of-court process will allow us to advance the stated objectives of the Company and avoid possible disruptions of our business, additional expenses, and other uncertainties that would result from commencing the bankruptcy cases under the Pre-Packaged Chapter 11 Plan. Furthermore, under the Pre-Packaged Chapter 11 Plan, the equity interests of our stockholders will be extinguished in their entirety. Therefore, your vote on the proposals at the Special Meeting is very important.

The Special Meeting will be held for the following purposes:

to approve, for purposes of complying with the Nasdaq Listing Rules and the ASX Listing Rules, and for all other purposes, (a) the issuance of 312,490,076 shares of our Common Stock to the Noteholders upon exchange of all of our outstanding Notes, and (b)(i) the issuance and sale to the Noteholders of $5.0 million of Common Stock at the price per share described in this Proxy Statement and (ii) the issuance to the Noteholders of warrants to purchase up to $20.0 million of Common Stock at the exercise price described in this Proxy Statement (the “Share Issuance Proposal”);

to approve the Amended and Restated 5E Advanced Materials, Inc. 2022 Equity Compensation Plan (the “Equity Plan Proposal”);

to approve, for the purposes of ASX Listing Rule 10.14 and for all other purposes, of the participation by each of