Company: AIRJW
Filing Date: 2025-05-05
Form Type: 424B3
Source: 0001213900-25-039770
Chunk: 225

Company: AirJoule Technologies Corp.
Filing Date: 2025-05-05
Form: 424B3
Chunk 225
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         |   |     |         |            |     |       |            |
|:---------------------------------|:----|:------------------------|:--|:----|:--------|:--|:----|:--------|-----------:|:----|:------|-----------:|
|                                  |     | Level 1                 |   |     | Level 2 |   |     | Level 3 |            |     | Total |            |
| Liabilities                      |     |                         |   |     |         |   |     |         |            |     |       |            |
| Earnout Shares liability         |     | $                       | — |     | $       | — |     | $       | 24,524,000 |     | $     | 24,524,000 |
| True Up Shares liability         |     |                         | — |     |         | — |     |         |  2,189,000 |     |       |  2,189,000 |
| Subject Vesting Shares liability |     |                         | — |     |         | — |     |         |  7,819,000 |     |       |  7,819,000 |
| Total liabilities                |     | $                       | — |     | $       | — |     | $       | 34,532,000 |     | $     | 34,532,000 |

Earnout Shares

The Legacy Montana Equityholders have the opportunity
to receive additional equity consideration (in each case, in accordance with their respective pro rata share) through the Earnout Shares.
The maximum value of the Earnout Shares is capped at $200.0 million (“Maximum Earnout Milestone Amount”) and the ability
to receive Earnout Shares expires on the fifth anniversary of the Closing. A majority of the independent members of the Post-Combination
Company Board then serving has sole discretion in determining, among other things, the achievement of the applicable milestones, the calculations
of payments of Earnout Shares to the applicable Legacy Montana Equityholders, the dates on which construction and operational viability
of new production capacity is deemed completed and whether to consent to a transfer of the applicable Legacy Montana Equityholder’s
right to receive Earnout Shares. Earnout Shares issuable in respect of Legacy Montana options outstanding as of immediately prior to the
effective time of the Merger may be issued to the holder of such Legacy Montana option only if such holder continues to provide services
(