5E Advanced Materials Gets Nasdaq Deficiency Notice Low Equity; Achieves First Boric Acid Delivery

5E Advanced Materials, Inc.

As of Sep 30, 2024, stockholders' equity was $2.094M, well below Nasdaq's $10M minimum requirement.
Nasdaq gave 45 days (until Jan 6, 2025) for 5E to submit a plan to regain compliance with the equity rule.
5E delivered its first full truckload shipment of boric acid super sacks to a U.S. customer in Q1 FY2025.
Company decided to pursue calcium chloride as by-product, expected to cut Phase 1 commercial CAPEX by ~15%.
EXIM issued letter of intent to backstop up to $285M in project debt financing, subject to final approval.

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