5E Advanced Materials Agrees To Funding Package With Its Lender, New Investors

(RTTNews) - 5E Advanced Materials, Inc. (FEAM) has entered into a Restructuring Support Agreement with its primary lender and the holder of the senior secured convertible notes, BEP Special Situations IV, LLC, along with new strategic investors, to restructure the capital and secure new capital. The company noted that the agreement brings in up to $35 million of new equity capital.

5E Advanced Materials plans to file a preliminary proxy statement for a special meeting of stockholders seeking approval of the deal. The company noted that the transaction is crucial to strengthening its balance sheet, funding the next phase of development, and commencing mining operations for boric acid and lithium.