Company: AIRJW
Filing Date: 2025-03-27
Form Type: S-1
Source: 0001013762-25-002897
Chunk: 197

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-27
Form: S-1
Chunk 197
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 the shares of common stock issuable upon exercise of the warrants and a current prospectus relating to them is available (or the Company permits holders to exercise their warrants on a cashless basis under the circumstances specified in the warrant agreement) and registered, qualified or exempt from registration under the securities, or blue sky, laws of the state of residence of the holder. Once the Public Warrants become exercisable, the Company may redeem the outstanding Public Warrants: •in whole and not in part; •at a price of $ 0.01per warrant; •upon a minimum 30 days’ prior written notice of redemption to each warrant holder; and •if, and only if, the reported last reported sale price of the Class A common stock for any 20trading days within a 30 -tradingday prior to the date on which the Company sends the notice of redemption to the warrant holders equals or exceeds $ 18.00per share (as adjusted). F-26 AIRJOULE TECHNOLOGIES CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 10 — STOCKHOLDERS’ EQUITY (DEFICIT) (cont.) The Company accounts for the warrants issued in connection with the IPO in accordance with the guidance contained in ASC 815. Such guidance provides that the warrants described above are not precluded from equity classification. Equity -classifiedcontracts are initially measured at fair value (or allocated value). Subsequent changes in fair value are not recognized as long as the contracts continue to be classified in equity. Subscription Agreements During the year ended December 31, 2024, the Company entered into subscription agreements with various investors (the “Subscription Agreements”), which brought in approximately $ 61.8million in gross proceeds. The Company issued and sold 5,807,647shares of the Class A common stock to investors upon the Closing in exchange for equity interests issued by Legacy Montana pursuant to Subscription Agreements entered into by Legacy Montana with such investors in the first quarter of 2024, which resulted in gross proceeds of approximately $ 49.4million, comprised of approximately $ 43.4million received in the first quarter of 2024 and approximately $ 6.0million in the second quarter of 2024. Of this total, TEP Montana purchased an aggregate of 5,116,176shares in exchange for approximately $ 43.5million pursuant to Subscription Agreements between Legacy Montana and TEP Montana. During the second quarter of 2024,