Company: FEAV
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0000950170-25-019943
Chunk: 20

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Item 8
Chunk 20
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 the Company’s Common Stock had not yet begun to trade on a reverse split-adjusted basis. The following table presents earnings (loss) per common share as if the Reverse Stock Split had been effectuated as of December 31, 2024. Consistent with the calculation of earnings (loss) per common share, the anti-dilutive impacts presented in the immediately preceding table were also excluded from the below calculation of pro forma earnings (loss) per share.

        Three months ended December 31,

        Six Months Ended December 31,

        2024

        2023

        2024

        2023

        (in thousands, except per share data)

        Pro forma basic earnings (loss) per share:

        Net income (loss) - numerator
         
        $
        (14,262
        )
         
        $
        (10,616
        )
         
        $
        (27,121
        )
         
        $
        (19,986
        )

        Pro Forma weighted-average shares — denominator(1)

        2,995

        1,923

        2,921

        1,923

        Pro forma basic earnings (loss) per share
         
        $
        (4.76
        )
         
        $
        (5.52
        )
         
        $
        (9.29
        )
         
        $
        (10.39
        )
       
      (1)Upon the effectiveness of the Reverse Stock Split, any stockholder who would otherwise become entitled to a fractional share because the number of shares of common stock they hold prior to the Reverse Stock Split is not evenly divisible by the split ratio determined by the Board may receive cash-in-lieu of such fractional shares. The ultimate number of fractional shares that may be cashed out as part of the Reverse Stock Split cannot be determined as of the date these financial statements were issued, and as such, the weighted-average shares outstanding have not been adjusted for such impact, if any.Subsequent Issuance of January 2025 NotesAs discussed in Note 7–Debt, subsequent to December 31, 2024 the Company issued the January 2025 Notes. The January 2025 Notes were initially convertible into 17,124,688 shares of Common Stock, 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 Nasdaq,