5E Advanced Materials secures $6M debt commitment contingent on $4M equity raise

5E Advanced Materials, Inc.

Bluescape and Ascend commit to purchase $3M each of secured convertible notes.
Conversion price set at 125% of equity raise price per share; notes mature Aug 15, 2028.
Debt financing conditioned on closing $4M equity financing and amendment of existing note agreement.
Proceeds to fund FEL-2 engineering, small-scale facility operations, customer qualification program.
Cash and equivalents were $4.9M as of June 30, 2024.

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