5E Advanced Materials Inc SEC Filings

5E Advanced Materials (FEAM) reported a net loss of $10.7 million for the three months ended September 30, 2025, as operating expenses totaled $10.7 million and non‑operating items were modest. Management stated there is substantial doubt about the company’s ability to continue as a going concern.

Cash and cash equivalents were $5.5 million as of September 30, 2025. The company raised net proceeds of about $7.4 million in the August 2025 equity offering. Shares outstanding were 22,444,587 as of November 12, 2025.

Operationally, 5E advanced its Fort Cady project: the Preliminary Feasibility Study for Phase 1 outlines an aggregate capital estimate of about $435 million, converting reserves of approximately 5.3 million short tons of boric acid at an average grade of 8.03% B2O3 and an initial 39.5‑year mine life. The plan targets FEL‑3 and a final investment decision in mid‑2026, with initial commercial production targeted for the second half of 2028. The company shipped boric acid for qualification trials, including 20 tons for specialty glass and 1,000 pounds for boron carbide.

5E Advanced Materials (FEAM) set its 2025 annual meeting for December 8, 2025 at 10:00 a.m. Pacific via live webcast. Only stockholders of record at the close of business on October 14, 2025 may vote; CDI holders may attend as guests. Shares outstanding were 22,444,587 as of the record date.

Stockholders will vote on eight items: elect four directors; ratify PricewaterhouseCoopers LLP for fiscal 2026; approve director participation in the Amended and Restated 2022 Equity Compensation Plan; approve an amendment to increase shares authorized under that plan; approve entering into an agreement to issue warrants to BEP Special Situations IV LLC and Ascend Global Investment Fund SPC (or affiliates); approve, for Nasdaq rules, issuance of shares upon exercise of the proposed new warrants; and a possible adjournment to solicit additional proxies. The Board recommends voting FOR all proposals.

Quorum is one-third in voting power. Proposal Two is routine for brokers; others are non‑routine. Voting standards vary by item, including majority of votes cast for director elections and specified majority tests for other proposals.

5E Advanced Materials (FEAM) will hold its 2025 Annual Meeting on December 8, 2025 at 10:00 a.m. Pacific as a virtual-only webcast. Only stockholders of record at the close of business on October 14, 2025 may vote. Shares outstanding were 22,444,587 as of the record date.

Stockholders will vote on: electing four directors; ratifying PricewaterhouseCoopers LLP for fiscal 2026; approving director participation in the Amended and Restated 2022 Equity Compensation Plan; amending that plan to increase authorized shares; approving agreements to issue warrants to BEP Special Situations IV LLC and Ascend Global Investment Fund SPC; approving, for Nasdaq purposes, the issuance of common shares upon exercise of the proposed new warrants; and potentially adjourning the meeting to solicit additional proxies. Proposal Six is conditioned on approval of Proposal Five. The Board recommends voting FOR all proposals.

The meeting is accessible at meetnow.global/M2PAGMQ using the 15‑digit control number on the proxy card. CDI holders may attend as guests and can direct voting through Computershare Australia by the stated deadline.

Curtis L. Hebert Jr., a director of 5E Advanced Materials, Inc. (FEAM), was granted 5,901 restricted stock units (RSUs) on 09/30/2025. Each RSU converts to one share of common stock and the reported transaction shows 5,901 shares beneficially owned following the grant. The RSUs were awarded under the Issuer's Amended and Restated 2022 Equity Compensation Plan, vesting on July 1, 2026 subject to Mr. Hebert's continued board service. The RSUs have no expiration date and were reported with a transaction price of $0.00. The Form 4 was submitted by Joshua Malm as attorney-in-fact for the reporting person.

5E Advanced Materials, Inc. (FEAM) director Bryn Llywelyn Jones was granted 5,901 restricted stock units (RSUs) on 09/30/2025. Each RSU represents a contingent right to one share of common stock and the reported grant increases the reporting person’s beneficial ownership to 5,901 shares. The RSUs were issued under the company’s Amended and Restated 2022 Equity Compensation Plan, vest on 07/01/2026 subject to continued board service, carry a reported price of $0.00, and have no expiration date.

Director Dick Barry received 6,885 restricted stock units (RSUs) of 5E Advanced Materials, Inc. (FEAM) on 09/30/2025. Each RSU converts to one share of common stock and the grant was reported as a direct holding of 6,885 shares following the award. The RSUs were issued under the companys Amended and Restated 2022 Equity Compensation Plan, carry a $0.00 purchase price, vest on July 1, 2026 subject to Mr. Barrys continued board service through the vesting date, and have no expiration date. The Form 4 was filed by one reporting person and signed by an attorney-in-fact on behalf of Mr. Barry.

Graham van't Hoff, a director of 5E Advanced Materials, Inc. (FEAM), was granted 8,196 restricted stock units (RSUs) on 09/30/2025. Each RSU represents a contingent right to one share of common stock. The RSUs were issued under the company's Amended and Restated 2022 Equity Compensation Plan and carry a reported price of $0.00. The award vests on July 1, 2026, contingent on the reporting person's continued service on the company's board through the vesting date. The RSUs have no expiration date. The Form 4 filing was signed on behalf of the reporting person by an attorney-in-fact on 09/30/2025.

5E Advanced Materials, Inc. (FEAM) is a development-stage mining company focused on the 5E Boron Americas (Fort Cady) Complex. The company operates a small-scale facility (SSF) that provides data to support a proposed commercial-scale project targeting initial commercial production in the second half of calendar 2028. Phase 1 targets production of 130,000 short tons per annum of boric acid with calcium byproducts. The company has limited operating history, has incurred significant net operating losses, and explicitly states there is substantial doubt about its ability to continue as a going concern. Management completed multiple financings and restructuring actions that provided net proceeds (approximately $10.2M from convertible note financings, $4.9M from a March 2025 subscription, $6.4M from a May 2025 offering, and ~ $8.3M from an August 2025 offering before costs) but anticipates additional financing will be needed within 12 months. Material risks include permit and environmental requirements, title and water rights complexity, project cost and schedule uncertainty, market price volatility for borates and lithium, and potential dilution from recapitalization and warrants.