Jan. 28 at 3:04 PM
5E Advanced Materials announced plans to conduct a public offering of up to
$30 million in common stock. The company filed offering documents based on an assumed public offering price of
$3.44 per share, equal to the most recent reported closing price on the Nasdaq Global Select Market. However, the final offering price will be determined by 5E Advanced Materials in coordination with placement agent Konik Capital Partners, taking into account market conditions at the time of pricing.
The company noted that the final offering price could be set at a discount to the current market price, and cautioned that the referenced recent trading price may not be indicative of the actual price per share in the offering. The common shares included in the planned offering carry a par value of
$0.01 per share.
The sharp decline in 5E Advanced Materials’ stock ahead of the market open reflects investor concerns over potential dilution from the new share issuance.
$FEAM