Company: FEAV
Filing Date: 2025-01-17
Form Type: DEFA14A
Source: 0000950170-25-006729
Chunk: 3

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-01-17
Form: DEFA14A
Chunk 3
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 our commercial plant design. It is really important to get this right for all the reasons that I've just spoken to that were negatively demonstrated with a small scale facility, and we are continuing to uncover opportunities for improvement. The challenge is for us to get this finalized at a high quality as soon as we possibly can.

And with that, we will enable a new technical report. We will enable the start of feed. And with that, the opportunity for new investment from third parties and from government. So that's the work of the next few months. And the team is absolutely committed to doing that as well as we possibly can. I'd like to thank all of you for being on this journey with us.

I know it's been disappointing and, I think we all feel it, but you feel it as well. So, thank you for being on this journey and staying on this journey with us. And with that, I'd like to hand over to Paul, and Paul's going to go into a lot more detail. So over to you, Paul.

Paul Weibel

CEO

Thanks, Graham.

First here, I want to thank all in attendance for today's call, and I also want to thank and acknowledge 5E's team for their continued dedication and hard work, and really determination as we continue to execute on the business plan, following up on Graham's remarks.

Before I want to summarize the transaction, I want to emphasize that my expectation here for 2025 is that we continue to build upon our operational success that that we achieved in 2024 started, authorization and mining activities. And then that segue to first product samples going out and in really steady state and ultimately culminated at the end of the year where we we sold 22 super sacks and feedback on that has actually been really, really good, um, as that product went directly into blow and insulation in the U.S. Market.

But with that, you know, yesterday we did announce our restructuring support agreement, and that includes the following highlights: the company issued 5 million of convertible notes that had a conversion price of approximately 29 cents, and then that outlines a path here where we will call a special meeting of shareholders, and upon a favorable, a successful vote, that RSA achieves the following: it'll be a full equitization of all convertible notes, where the company is going to issue approximately 312 million shares of common stock; lenders who will then at that point in time be shareholders will subscribe to 5 million of the company's