5E Advanced Materials completes asset purchase for $3.4 million cash, 8.3 million shares and $6.2 million note
FEAM•5E Advanced Materials completed its acquisition of Searles Valley Minerals assets on Oct. 1, 2026, paying about $3.4 million cash, issuing 8.3 million shares and a $6.2 million promissory note.
1. Purchase consideration
The $6.2 million senior unsecured promissory note carries 14.5% annual interest paid in kind, requires $1.2 million in cash at 24 months and matures in five years.
2. Bridge facility
The deal also included a $10 million senior secured Bridge Facility from Karnavati, with $7 million funded at closing and 8% interest paid in kind. The facility matures in 270 days, includes a $1 million transaction fee at maturity and is secured by substantially all of 5E’s Searles Valley Minerals assets.
