FREYR Battery (FREY) director Encompass Capital Advisors received 5,000,000 Convertible Preferred Stock

Insider transactions reported

Encompass Capital Advisors LLC (director at FREYR Battery Inc., FREY) reported that they received 5,000,000 Convertible Preferred Stock on Dec 23, 2024.

Reporting person

Encompass Capital Advisors LLC

Options and other derivatives

Holdings before and after

• Convertible Preferred Stock: 0 to 5,000,000 direct

Footnotes from the filing

1. 1. This Form 4 is filed jointly by Todd Kantor, Encompass Capital Advisors LLC ( ECA ) and Encompass Capital Partners LLC ( ECP and, together with Mr. Kantor and ECA, collectively, the Reporting Persons ). Each of the Reporting Persons is a member of a Section 13(d) group. Each of the Reporting Persons disclaims beneficial ownership of the securities of the Issuer owned directly by other members of the Section 13(d) group and this report shall not be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purpose. Further, each of the Reporting Persons disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of his or its pecuniary interest therein.
2. 2. Each share of Series A Convertible Preferred Stock, par value $0.01 per share ( Preferred Stock ) is convertible at any time after December 23, 2025 into a number of shares of common stock of the Issuer ( Common Stock ) equal to the sum of the issue price ($10.00) plus any accrued but unpaid dividends divided by the conversion price (initially $2.50, but subject to adjustment to $1.79 in the event the Issuer elects not to issue the Second Tranche on the date that the Issuer proceeds with its final investment decision with respect to the TUM 2 facility, as defined in the certificate of designations of the Preferred Stock (the Certificate )). The Certificate prohibits conversion to the extent that the holder would beneficially own in excess of 19.99% of the number of shares of Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon conversion of Preferred Stock.

Transaction codes in this filing

Grant or award:

Code A marks a grant or award from the company under an exempt employee or director plan. Usually nothing is paid for it.

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