Company: FEAV
Filing Date: 2025-01-17
Form Type: DEFA14A
Source: 0000950170-25-006729
Chunk: 7

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-01-17
Form: DEFA14A
Chunk 7
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CEO

Listen, we've gotten to know the Bluescape team. We have gotten to know the Ascend team. It's visits with both of them and getting management, getting to know our investors. And while I can't speak for the lenders, I believe it's the relationship we're building there, there are financial partner and our sponsors and, it's continued execution, commercial progress on what Mark and Kenneth are doing.

Listen, the Ascend and Bluescape are both financial investors. They're going to listen to what the capital markets are telling us. What's the market saying? And, it was saying that the current Curt corporate structure is a challenge. And so that feedback with listening and knowing what the company has been doing and the progress we're making, while I can't speak for them is why I believe they're going to equitize.

But we got to get a favorable shareholder vote. Their preference has really been, want to see share price go higher. There's value in convexity and in the condo and in their preference, what is to have investors, other investors in the company. And so if the investment community and market are saying, and the feedbacks that minimal capital is going to come into the company with the notes on the balance sheet, we needed to work a solution to remove the debt. And so that's kind of where we, and which is where we are today.

Graham Van’t Hoff

Chairman

And maybe just to add Paul, the risk of slight duplication, but just an add, I think that, you know, we all know that. The discount that they're getting off the current share price is a frustration to, or it would be a frustration to me sitting in an average investor's shoes, frankly.

So we understand that at the same time, I'd say what they are doing here is a huge positive and, and that's for two reasons. And I think Paul's said them, but I'll re say them, which is first of all, I think the both of them recognize that them staying as notes holders was fundamentally not going to unlock our ability to get new investment into the future.

And it was blocking it. And as long as they sat there, that was really not going to work. And the second thing I think is, by stepping now to being, becoming equity holders, like everybody else, obviously now they're exposed. And I think the fact that they are exposed means that they also have to be fundamentally committed.

And I think that