Company: FEAV
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0000950170-25-019943
Chunk: 83

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Item 1
Chunk 83
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 )
         
        $
        (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, prior to such 

19

approval being obtained. The impact of the January 2025 Notes is not reflected in the computation of earnings per share or pro forma earnings per share for the three and six months ended December 31, 2024 and 2023.Proposed Out-of-Court RestructuringAs discussed in Note 1–Basis of Financial Statement Presentation and Note 10–Equity, the proposed Out-of-Court Restructuring could result in (i) the issuance of 312,490,076 shares of Common Stock upon the exchange of the Convertible Notes, (i) the issuance of an aggregate $5.0 million of Common Stock at the Subscription Price, and (iii) the issuance of Restructuring Warrants with a one-year term to purchase an aggregate number of shares of Common Stock represented by up to $20.0 million divided by the Subscription Price. Each of the aforementioned potential impacts to the Company’s equity