5E Advanced Materials Closes First Tranche of Equity Financing Following Special Meeting
HESPERIA, Calif., Jan. 19, 2024 (GLOBE NEWSWIRE) — 5E Advanced Materials, Inc. (Nasdaq:FEAM) (ASX: 5EA) (“5E” or the “Company”), a boron and lithium company with U.S. government Critical Infrastructure designation for its 5E Boron Americas Complex, today announced it has closed its first tranche of equity financing following a favorable vote from the Company’s stockholders at its special meeting held last week. The first closing included $10 million in new equity capital split equally between Ascend Global Investment Fund SPC (“Ascend”) and 5ECAP, LLC (“5ECAP”). This equity capital is expected to provide the necessary resources to advance mining operations and progress towards first production.
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