On September 14, 2026, 5E Advanced Materials, Inc. entered into an Asset Purchase Agreement to acquire specified assets from Searles Valley Minerals Inc., a debtor in Chapter 11 bankruptcy, through a Section 363 court-supervised sale. The acquisition consideration includes approximately $3.4 million in cash (less a $300,000 earnest money deposit), 8.3 million shares of the Company's common stock, and a senior unsecured promissory note valued at approximately $6.2 million bearing interest at 14.5% per annum. The Specified Assets comprise real property including Argus, Westend, and Trona production facilities, approximately 9,000 acres of Searles Lake brine resources, a short-line railroad, water infrastructure, and related equipment in San Bernardino County, California. The transaction is conditioned on Bankruptcy Court approval, Surface Transportation Board authorization for the railroad assets, and the Company's receipt of $10.0 million in senior secured bridge financing from Seller Related Party. Closing is expected in early October 2026, subject to an outside date of October 2, 2026. The company operates in the advanced materials sector, focusing on the development and supply of refined borates and critical minerals.