5E Advanced Materials closes Searles Valley asset buy; pays $3.4M cash, 8.3M shares, $6.2M note

5E Advanced Materials, Inc.

Completed Oct 1, 2026 purchase of Searles Valley Minerals' real property, production facilities and brine resources via subsidiary 5E SVM for ~$3.4M cash, 8.3M shares and a ~$6.2M note.
Stock consideration includes 312,500 shares issued later once Sellers deliver specified deeds; 49,634,871 common shares outstanding after the transactions.
Senior unsecured note: $6,220,000 at 14.5% PIK interest capitalized quarterly; $1.22M cash payment due after closing (12 months per exhibit, 24 per 8-K body); matures Sept 30, 2031.
Bridge Facility from Karnavati Holdings: $10.0M senior secured, 8.00% PIK, $7.0M drawn at close, matures in 270 days with a $1.0M fee; secured by 5E SVM assets, guaranteed by 5E.
Cash and equivalents were $15.7M at Sept 30, 2026, $19.6M giving effect to the deal; acquiree financials and pro formas to be filed within 71 days.

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