Company: AIRJW
Filing Date: 2025-03-27
Form Type: S-1
Source: 0001013762-25-002897
Chunk: 141

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-27
Form: S-1
Chunk 141
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oule and, in connection therewith, the Company terminated the consulting agreement with Doxey Capital LLC. Subscription Agreements On January 26, 2024, March 4, 2024, March 8, 2024 and March 14, 2024, AirJoule entered into Subscription Agreements with TEP Montana LLC, an investment entity controlled by Patrick C. Eilers, a member of the Board, pursuant to which TEP Montana acquired AirJoule Class B common units that converted into an aggregate of 5,116,176shares of Class A Common Stock upon the consummation of the Business Combination for an aggregate purchase price of approximately $43.5 million. On January 29, 2024, AirJoule entered into a Subscription Agreement with Stu Porter, a member of the Board, pursuant to which Mr. Porter acquired AirJoule Class B common units that converted into an aggregate of 294,118shares of Class A Common Stock upon the consummation of the Business Combination for an aggregate purchase price of $2.5 million. Lease Agreement The Company had a property lease agreement with its Chief Executive Officer. The lease agreement was terminated upon close of the Business Combination on March 14, 2024. As of December 31, 2024 and December 31, 2023, $0 and $2,000 were owing under this agreement and included in accounts payable on the condensed consolidated balance sheets. Office Services Agreement On October 31, 2020, the Company entered into a consultancy agreement with an affiliate for a monthly payment of $5,000 to provide office services. On May 1, 2024, this office services agreement was terminated. As of December 31, 2024, $0 was owed under this agreement. Statement of Policy Regarding Transactions with Related Persons In connection with the closing of the Business Combination, we adopted a formal written policy providing that the Company’s officers, directors, nominees for election as directors, beneficial owners of more than 5% of our Class A Common Stock, any member of the immediate family of any of the foregoing persons and any firm, corporation or other entity in which any of the foregoing persons is employed or is a general partner or principal or in a similar position or in which such person has a 5% or greater beneficial ownership interest, are not permitted to enter into a related party transaction with AirJoule without the approval of our audit committee, subject to certain exceptions.