5E Advanced Materials Closes $36 Million Upsized Public Offering of Common Stock

5E Advanced Materials has closed a $36 million upsized and oversubscribed public offering of common stock, led by one of its largest stockholders and several new institutional investors. The offering consisted of 18 million shares at $2.00 per share, with gross proceeds of approximately $36 million before deducting the placement agent fee. The company plans to use the funds to further its vertically integrated global leadership in refined borates, advanced boron derivative materials, and critical materials.