5E Advanced Materials issues $6M in new 4.5% convertible notes, amends conversion terms

5E Advanced Materials, Inc.

Issued $6.0M aggregate principal of 4.50% senior secured convertible notes to Bluescape and Ascend.
New notes convertible at $1.5375/share (650.4065 shares per $1,000 principal); same rate as existing notes.
Amended make-whole adjustment: up to 325.2033 additional shares per $1,000, subject to stockholder approval.
Interest payable semi-annually; 10.00% PIK option; notes mature August 15, 2028.
Conversion rate subject to adjustment for degressive issuances before Dec 31, 2024; stockholder approval required for certain adjustments.

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