Company: FEAV
Filing Date: 2025-01-14
Form Type: 8-K
Source: 0000950170-25-005373
Chunk: 2

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-01-14
Form: 8-K
Item: Item 1.01
Chunk 2
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its 10.1-10.5 and are incorporated herein by reference.

Additional Notes

On January 14, 2025, in connection with the Transaction, the Company also entered into Amendment No. 4 to the Note Purchase Agreement (“ Amendment No. 4”). Pursuant to the Note Purchase Agreement, the Company previously issued $60.0 million aggregate principal amount of convertible promissory notes in August 2022 (the “ August 2022 Notes”), $6.0 million aggregate principal amount of convertible promissory notes in June 2024 (the “ June 2024 Notes”) and $6.0 million aggregate principal amount of convertible promissory notes in September 2024 (the “ September 2024 Notes” and, collectively with the August 2022 Notes and the June 2024 Notes, the “ Existing Notes”).

On January 14, 2025, pursuant to Amendment No. 4, the Company (i) issued and sold $5.0 million aggregate principal amount of convertible notes (the “ January 2025 Notes” and, collectively with the Existing Notes, the “ Notes”) to Bluescape, Ascend and Meridian

(collectively, “ Purchasers”), comprised of $2.5 million of January 2025 Notes to Bluescape and $1.25 million of January 2025 Notes to each of Ascend and Meridian and (ii) amended and restated the Note Purchase Agreement in the form attached as Annex A to Amendment No. 4 (the “ Amended and Restated Note Purchase Agreement”).

The January 2025 Notes, which were issued in substantially the same form as the Existing Notes, bear interest at a rate of 4.50% per annum, payable semi-annually beginning on February 15, 2025, or 10.00% per annum if the Company elects to pay such interest in kind through the delivery of additional Notes, and are initially convertible into an aggregate of 17,124,688 shares of the Company’s Common Stock at a conversion rate of 3,424.9375 shares of Common Stock per $1,000 principal amount of Notes (the “ Conversion Rate”), representing a conversion price of $0.2920 per share, provided, however, that no shares of Common Stock will be issuable that would require approval of the Company’s stockholders under the applicable listing rules of The Nasdaq Stock Market LLC (“ Nasdaq”), prior to such approval being obtained