Debt Restructuring & Equity FundingApproval of the funding and restructuring transaction will remove a minimum cash covenant, increasing FEAM's stockholders' equity balance and reducing potential risks.
Investor ConfidenceFEAM's convertible debt lenders agreed to purchase $5M of equity, which signals confidence from investors.
Production & Customer EngagementFEAM is producing boric acid in California and is expected to periodically receive orders from large industrial customers.