5E Advanced shares surge 15.42% intraday after announcing oversubscribed $36M IPO for boron facilities and Fort Cady project development.

5E Advanced surged 15.42% intraday, with the company announcing an oversubscribed $36 million public offering for 18 million shares at $2.00 each, with proceeds to fund small-scale boron facilities, well site development, and commercial mining. As a development-stage company, it focuses on becoming a vertically integrated global refined borate and critical materials supplier, owning the Fort Cady project and advancing commercial production.