Company: FEAV
Filing Date: 2025-01-14
Form Type: 8-K
Source: 0000950170-25-005373
Chunk: 1

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-01-14
Form: 8-K
Item: Item 1.01
Chunk 1
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 Bluescape of warrants with a one-year term (the “ Warrants”) to purchase an aggregate number of shares of Common Stock represented by $20.0 million divided by the Subscription Price, at a price per share equal to the Subscription Price; and

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pursuant to a Fourth Amended and Restated Investor and Registration Rights Agreement dated January 14, 2025 among the Company, Ascend and Bluescape (the “ IRRA”), the right of each of Ascend and Bluescape to designate two directors to serve on the Company’s Board following the consummation of the Transaction for so long as such party beneficially owns 25% of the Company’s Common Stock and one director to serve on the Company's Board for so long as such party beneficially owns 10% of the Company's Common Stock (clauses (i) through (iv), together, the “ Out-of-Court Restructuring”); or

• In-Court Restructuring
: To the extent that the terms of or the conditions precedent to the Out-of-Court Restructuring cannot be timely satisfied or waived, the Company shall file voluntary pre-packaged cases (the “ Chapter 11 Cases”) under chapter 11 of title 11 of the United States Code (the “ Bankruptcy Code”) in a United States Bankruptcy Court (the “ Bankruptcy Court”) pursuant to a pre-packaged plan of reorganization (the “ Pre-Packaged Chapter 11 Plan”) pursuant to which, among other things, all existing equity interests of the Company shall be extinguished, with Ascend and Bluescape each owning their respective pro rata share of 100% of the new equity interests in the Company upon the effective date of the Pre-Packaged Chapter 11 Plan (the “ In-Court Restructuring”). The Restructuring Support Agreement further provides that Ascend and Bluescape shall provide a $10 million debtor-in-possession financing facility pursuant to a debtor-in-possession credit agreement to be agreed upon by the parties and, as necessary, approved by the Bankruptcy Court.

Capitalized terms not otherwise defined herein shall have the meanings given to them in the Restructuring Support Agreement. The foregoing summaries of the Restructuring Support Agreement, the Exchange Agreement, the Subscription Agreement, the form of Warrant and the IRRA do not purport to be complete and are qualified in their entirety by reference to the full text of such agreements, copies of which are filed with this Current Report on Form 8-K as Exhib