5E Advanced Materials Inc
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
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Dec 31, 2023 · Filed Feb 14, 2024
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Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Unregistered Sale of Equity Securities
On January 18, 2024, we issued (i) 5,365,854 shares of Common Stock to Ascend at a price of $1.025 per share, which shares include the placement fee paid to Ascend in shares of Common Stock and (ii) 5,635,854 shares of Common Stock to 5ECAP at a price of $1.025 per share, which shares include the placement fee paid to 5ECAP in shares of Common Stock (together, the “First Closing”). On January 29, 2024, we issued 8,317,074 shares of Common Stock to 5ECAP at a price of $1.025 per share (the “Second Closing”). The shares of Common Stock issued in the First Closing and the Second Closing were made in reliance on Section 4(a)(2) of the Securities Act. We intend to use the net proceeds from the First Closing and Second Closing to strengthen our balance sheet, fund our next phase of development, and commence mining operations for boric acid and lithium.
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