Company: FEAV
Filing Date: 2025-01-17
Form Type: DEFA14A
Source: 0000950170-25-006729
Chunk: 6

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-01-17
Form: DEFA14A
Chunk 6
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We continue to really track well with floor in our pre feed, and we've already kicked off our vending to vendor testing program on with specific OEMs, milestone wise, we're really focused on getting enough tonnage here for specialty glass tank testing in the Asian markets, as well as the offtakes on boric acid and calcium chloride, following a successful vote here for for shareholders.

This quarter, we're going to be free from restrictions, covenants, um, once we, we can close this restructuring and, you know, this, you know, this comes with lenders giving a priority in the cap structure.

Romeo Maione

6ix

No, it makes sense. Um, after the restructuring, how much, if any debt will still be remaining on the balance sheet?

Paul Weibel

CEO

Always three small truckloads. So it goes from zero to hero.

Romeo Maione

6ix

Okay. I appreciate that. Graham, I'm going to get you in for the next one. If you don't mind, curious if management or the board are going to get retainment bonuses or any other additional financial incentive as part of this transaction.

Graham Van’t Hoff

Chairman

Yeah. So first of all, let me be clear that as part of the transaction, there is no cash retention, so that is not in the transaction. I think the board and conversation committee will need to consider what may be an appropriate incentives to retain our talent going forward. I would say, as I look at it now, I do not envisage that any form of retention is needed for board members. I think, and I can say I've been contacted by more than one investor saying that I really hope that we're not going to lose some of our key management.

And I would say, I share that sentiment. And it is very important that we have enough incentive structure to make sure that that indeed is the case. So our key management and we're small lean and there's no real overlap of capabilities here. So, we need to retain what we've got and we're happy with what we've got.

And so I envisage we’ll probably need to do something, um, but we have not landed that at this point.

Romeo Maione

6ix

Appreciate that very much. Paul, what changed to the best of your ability to answer what changed to give your lenders the confidence to rotate their positions from creditors to equity investors?

Paul Weibel