Washington, D.C. 20549
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EXHIBIT E
FORM OF COMPANY NOTIFICATION OF PAID-IN-STOCK INTEREST ELECTION
July 11, 2023
This notification is delivered to you, GLAS Trust Company LLC, as Trustee under the indenture dated February 13, 2023, among Electra Battery Materials Corporation (the “Company”), the guarantors party thereto, and the Trustee (as amended, supplemented, or otherwise modified from time to time, the “Indenture”) as well as the Holders, the Paying Agent, and the Conversion Agent (as defined in the Indenture), in connection with the Company’s option to elect to pay Paid-in-Stock Interest as set forth in Section 2.03 of the Indenture.
Capitalized terms used and not otherwise defined herein shall have the meanings assigned thereto in the Indenture.
The undersigned Officer of the Company (the “Officer”) hereby certifies that the undersigned is authorized to execute this notification on behalf of the Company (and not in a personal capacity) and does hereby notify the Trustee and the Paying Agent, in the name and on behalf of the Company (and not in his personal capacity), that for the Interest Payment Date of August 15, 2023, the Company shall pay the interest on the Notes that will be due and payable on such Interest Payment Date by way of a Paid-in-Stock Payment.
As of the date hereof, the Company has a total of 35,635,073 shares of Common Stock issued and outstanding.
Any Holder that notifies the Company no later than two Trading Days prior to such Interest Payment Date that such Holder would be prevented from receiving any portion of a Paid-In-Stock Payment due to the application of the Beneficial Ownership Limitation (which notice shall promptly be given by the Company in writing to the Trustee and the Paying Agent) shall be paid interest on such Interest Payment Date in the form of cash.
Trent Mell
CEO
July 11, 2023
