5E Advanced Materials announces public offering

5E Advanced Materials announced a new underwritten public offering of common stock shares, with all shares being issued by the company itself.

Konik Capital Partners, LLC will act as the lead book-running manager for the offering, which includes an option for underwriters to purchase additional shares within 30 days at the public offering price.

Following the announcement, 5E Advanced Materials' stock price fell by 19.69% in after-hours trading, dropping to $3.67.

Recommendation Rating: Strong Buy

5E Advanced Materials (NASDAQ: FEAM) made a significant announcement on Thursday regarding its new underwritten public offering of common stock shares. In this offering, all shares are being issued by 5E itself. The company also plans to provide underwriters with an option to acquire additional shares over the next 30 days at the public offering price.

Konik Capital Partners, LLC will serve as the lead book-running manager for this offering. Following this news, FEAM experienced a decline of 19.69% in after-hours trading, bringing its price down to $3.67.

Source: Press Release