Bluescape boosts 5E Advanced Materials (NASDAQ: FEAM) holdings to 29.2%

Rhea-AI Filing Summary

5E Advanced Materials, Inc. received an updated large-shareholder filing showing Bluescape-affiliated entities increasing their stake. On February 2, 2026, the reporting persons purchased 4,000,000 shares of common stock for aggregate consideration of $8 million, funded through capital contributions from partners and shareholders.

Following this transaction, Bluescape Energy Partners IV GP LLC and BEP Special Situations IV LLC report beneficial ownership of 12,130,997 shares of common stock, representing 29.2% of the class, based on 41,511,883 shares outstanding as of February 2, 2026. Voting and dispositive power over these shares is reported on a shared basis.

Insights

Equity ownership and governance analyst

Bluescape-related entities now report a 29.2% stake in 5E Advanced Materials after a $8 million share purchase.

The filing shows Bluescape Energy Partners IV GP LLC and BEP Special Situations IV LLC buying 4,000,000 shares of 5E Advanced Materials common stock on February 2, 2026 for aggregate consideration of $8 million. Funding came from capital contributions from their partners and shareholders.

After this purchase, they report beneficial ownership of 12,130,997 shares, or 29.2% of the common stock, based on 41,511,883 shares outstanding as of February 2, 2026. Voting and dispositive power over these shares is described as shared, reflecting the structure where Bluescape Energy Partners IV GP LLC is general partner of a fund that wholly owns BEP Special Situations IV LLC.

The amendment also notes that, aside from this February 2, 2026 transaction, the reporting persons have not effected other trades in the issuer’s common stock since the prior amendment. Future company filings may further clarify how this sizable ownership position interacts with governance and strategic decisions.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 11)

5E Advanced Materials, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

33830Q109

(CUSIP Number)

Jonathan Siegler
300 Crescent Court, Suite 1860,
Dallas, TX, 75201
469-398-2205

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

02/02/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 33830Q109

1

Name of reporting person

Bluescape Energy Partners IV GP LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,130,997.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,130,997.00

11

Aggregate amount beneficially owned by each reporting person

12,130,997.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

29.2 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No. 33830Q109

1

Name of reporting person

BEP Special Situations IV LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,130,997.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,130,997.00

11

Aggregate amount beneficially owned by each reporting person

12,130,997.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

29.2 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock
(b)	Name of Issuer: 5E Advanced Materials, Inc.
(c)	Address of Issuer's Principal Executive Offices: 9329 Mariposa Road, Suite 210, Hesperia, CALIFORNIA , 92344.
Item 1 Comment: This Amendment No. 11 ("Amendment No. 11") amends and supplements the statement on Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on December 8, 2023, as amended by Amendment No. 1 filed with the SEC on January 22, 2024, Amendment No. 2 filed with the SEC on June 13, 2024, Amendment No. 3 filed with the SEC on August 27, 2024, Amendment No. 4 filed with the SEC on September 18, 2024, Amendment No. 5 filed with the SEC on January 15, 2025, Amendment No. 6 filed with the SEC on January 16, 2025, Amendment No. 7 filed with the SEC on March 6, 2025, Amendment No. 8 filed with the SEC on March 14, 2025, Amendment No. 9 filed with the SEC on August 27, 2025 and Amendment No. 10 filed with the SEC on December 8, 2025 (together, the "Original Schedule 13D"), relating to the shares of common stock, par value $0.01 per share (the "Common Stock"), of 5E Advanced Materials, Inc. (the "Issuer") whose principal executive office is located at 9329 Mariposa Road, Suite 210, Hesperia, CA 92344. Except as specifically provided herein, this Amendment No. 11 does not modify any of the information previously reported on the Original Schedule 13D. Unless otherwise indicated herein, capitalized terms used but not defined in this Amendment No. 11 shall have the same meanings herein as are ascribed to such terms in the Original Schedule 13D.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 is hereby amended and supplemented as follows: On February 2, 2026, the Reporting Persons purchased 4,000,000 shares of Common Stock for aggregation consideration of $8 million. The Reporting Persons obtained the funds to purchase the Common Stock through capital contributions from its partners and shareholders.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5 is hereby amended and restated as follows: The information contained on the cover pages is incorporated by reference to this Item 5. The ownership information presented on the cover pages represents beneficial ownership of Common Stock of the Issuer as of the date hereof, based upon 41,511,883 shares of Common Stock outstanding as of February 2, 2026 as disclosed in the Issuer's Prospectus filed with the Securities and Exchange Commission on February 2, 2026.
(b)	The information contained on the cover pages is incorporated by reference to this Item 5. Bluescape Energy Partners IV GP LLC is the general partner of Bluescape Energy Recapitalization and Restructuring Fund IV LP, which wholly owns BEP Special Situations IV LLC. As such, Bluescape Energy Partners IV GP LLC may be deemed to have beneficial ownership of the securities held by BEP Special Situations IV LLC.
(c)	Other than as described in this Amendment No. 11, the Reporting Persons have not effected any transactions in the Common Stock since Amendment No. 10.
(d)	None.
(e)	Not applicable.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Bluescape Energy Partners IV GP LLC

Signature:	/s/ Jonathan Siegler
Name/Title:	Jonathan Siegler, Authorized Signatory
Date:	02/04/2026

BEP Special Situations IV LLC

Signature:	/s/ Jonathan Siegler
Name/Title:	Jonathan Siegler, Authorized Signatory
Date:	02/04/2026

FAQ

How many 5E Advanced Materials (FEAM) shares did Bluescape-affiliated entities buy in this amendment?

The reporting persons purchased 4,000,000 shares of 5E Advanced Materials common stock on February 2, 2026. The filing states they paid aggregate consideration of $8 million for these shares, using funds obtained through capital contributions from their partners and shareholders.

What is Bluescape’s total beneficial ownership in 5E Advanced Materials (FEAM) after this filing?

After the reported transaction, Bluescape-related entities report beneficial ownership of 12,130,997 shares of 5E Advanced Materials common stock. This amount represents 29.2% of the company’s outstanding common stock, based on 41,511,883 shares outstanding as of February 2, 2026.

What percentage of 5E Advanced Materials (FEAM) does Bluescape now hold according to this Schedule 13D/A?

The filing reports that the Bluescape-affiliated reporting persons beneficially own 29.2% of 5E Advanced Materials’ common stock. This percentage is calculated using 41,511,883 shares outstanding as of February 2, 2026, as disclosed in the issuer’s prospectus filed on that same date.

How was the $8 million 5E Advanced Materials (FEAM) share purchase funded by the reporting persons?

The filing explains that the $8 million used to purchase 4,000,000 shares of common stock on February 2, 2026 came from capital contributions. Partners and shareholders of the reporting persons provided these contributions, rather than external borrowings described in the excerpt.

Which entities are the reporting persons in this 5E Advanced Materials (FEAM) Schedule 13D/A amendment?

The reporting persons are Bluescape Energy Partners IV GP LLC and BEP Special Situations IV LLC. Bluescape Energy Partners IV GP LLC is the general partner of a fund that wholly owns BEP Special Situations IV LLC and may be deemed to share beneficial ownership of the reported shares.

What level of voting and dispositive power do Bluescape entities report over 5E Advanced Materials (FEAM) shares?

The cover pages state that each reporting person has 0 shares with sole voting or dispositive power and 12,130,997 shares with shared voting and shared dispositive power. This indicates decisions over these shares are exercised jointly rather than individually.