5E Advanced Materials to Acquire Searles Valley Minerals Assets

The acquisition includes the Westend and Argus production plants, the Trona Railway, and approximately 9,000 acres of brine resources across San Bernardino, Kern, and Inyo counties. 5E Advanced Materials will pay $3,357,906 in cash, issue 8,300,000 shares of common stock, and provide a $6,220,000 senior unsecured note to complete the purchase. To facilitate the transition, 5E has secured $10 million in bridge financing from the parent company of the debtors.

Dennis Cruise, president of Searles Valley Minerals, noted that the deal concludes a competitive bidding process and provides a stable path forward for more than 150 years of continuous mining history. The transaction remains subject to approval by the United States Bankruptcy Court for the District of Delaware, with a hearing scheduled for September 15, 2026. If authorized, the deal is expected to close in October 2026, pending regulatory clearance from the Surface Transportation Board regarding the railway assets. Throughout the transition, the company will maintain standard production of boron and sodium sulfate, while continuing to supply water to the Trona community.