5E Advanced Materials signs standstill with Bluescape; cash $11.8M, appoints CRO

5E Advanced Materials, Inc.

Standstill with Bluescape & noteholders forbears from exercising remedies; allows cash below $10M covenant through Dec 1, 2023.
Cash balance at Sep 30, 2023: $11.8M, just above $10M covenant before standstill.
Appointed Peter Kravitz as Chief Restructuring Officer effective Nov 9, 2023.
Engaged Province to advise on restructuring senior secured convertible notes.

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