Company: FEAV
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0000950170-25-019943
Chunk: 19

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Item 8
Chunk 19
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 to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted loss per share reflects the potential dilution that could occur if DSUs, RSUs, PSUs, stock options and convertible securities such as the Convertible Notes (excluding any Additional Shares as the probability of a Make-Whole Fundamental Change cannot be predicted) and Warrants were exercised or converted into common stock at the end of the respective period. Diluted loss per share equals basic loss per share for the three and six months ended December 31, 2024 and 2023 as the effect of including dilutive securities in the calculation would be anti-dilutive.For the three and six months ended December 31, 2024 and 2023, the following effects are excluded from the computation of dilutive loss per share as such effects would have an anti-dilutive effect.

        Three months ended December 31,

        Six Months Ended December 31,

        2024

        2023

        2024

        2023

        (in thousands)

        Interest expense on Convertible Notes
         
        $
        2,461

        $
        2,406

        $
        4,644

        $
        4,798

        Derivative gain (loss) — Convertible Note Derivatives
         
        $
        (830
        )
         
        $
        —

        $
        1,357

        $
        —

        Additional shares assuming conversion of Convertible Notes

        55,480

        3,611

        55,480

        3,611

        Additional shares assuming exercise of Warrants

        10,667

        —

        10,667

        —

        Stock options and unvested restricted stock units and    performance share units

        3,794

        4,740

        3,794

        4,740

      Reverse Stock Split – Pro Forma Earnings (Loss) Per Common ShareAs discussed in Note 1–Basis of Financial Statement Presentation, on February 3, 2025, the Board approved a 1-for-23 Reverse Stock Split, which will become effective upon filing of the amendment to the Company’s Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware. As of the date these financial statements were issued, the Reverse Stock Split had not yet become effective and