Company: FEAV
Filing Date: 2025-01-14
Form Type: 8-K
Source: 0000950170-25-005373
Chunk: 7

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-01-14
Form: 8-K
Item: Item 8.01
Chunk 7
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Item 8.01 Other Events.

As previously disclosed, on November 21, 2024, the Company received written notice (the “ Notice”) from Nasdaq indicating that the Company’s stockholders’ equity of $2,094,000, as reported in its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, did not satisfy Nasdaq Listing Rule 5450(b)(1), which requires companies listed on the Nasdaq Global Select Market to maintain a minimum of $10,000,000 in stockholders’ equity for continued listing (the “ Stockholders’ Equity Rule”). In accordance with the Notice, the Company had 45 days from the date of the Notice to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rule 5450(b)(1), which the Company submitted on January 6, 2025.

On January 10, 2025, Nasdaq informed the Company that the request for extension to evidence compliance with the Stockholders’ Equity Rule was granted. As a result of the extension, the Company now has until May 19, 2025 to provide evidence that it has completed the Transaction and has regained compliance with the Stockholders’ Equity Rule.

There can be no assurance that the Company will be successful in implementing its plan to regain compliance with the Stockholders’ Equity Rule, or will otherwise be in compliance with other Nasdaq Listing Rules.

Forward-Looking Statements

This Current Report includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements other than statements of historical fact included in this Current Report regarding our business strategy, plans, goal, and objectives are forward-looking statements, including without limitation statements regarding the Company’s ability to consummate the Transaction and its intent or ability to regain compliance with any applicable Nasdaq listing requirements. When used in this Current Report, the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “seek,” “budget,” “target,” “aim,” “strategy,” “plan,” “guidance,” “outlook,” “intent,” “may,” “should,” “could,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on the Company’s current expectations and assumptions about future events