06:41 AM EDT, 08/22/2025 (MT Newswires) -- 5E Advanced Materials ( FEAM ) said late Thursday that it has priced its underwritten public offering of roughly 2.4 million common shares at $3.50 per share.

The company said it expects to raise gross proceeds of $8.31 million from the offering, which is anticipated to close on Aug. 25.

5E said it intends to use net proceeds from the offering, along with existing reserves, for the operation of its small-scale boron facility, wellfield development and analysis, advanced planning for FEL-3 engineering, and general corporate purposes.

Shares of the company were down 21% in recent Friday premarket activity.