Company: AIRJW
Filing Date: 2025-05-05
Form Type: 424B3
Source: 0001213900-25-039770
Chunk: 200

Company: AirJoule Technologies Corp.
Filing Date: 2025-05-05
Form: 424B3
Chunk 200
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ifies the requirements related to accounting
for the settlement of a debt instrument as an induced conversion. The standard is effective for the Company for fiscal years
beginning after December 15, 2025. Early adoption is permitted. The adoption of this standard is not expected to have a material
impact on the Company’s consolidated financial statements and related disclosures.

Note 4 — RECAPITALIZATION

On June 5, 2023, XPDB and Merger Sub entered
into the Merger Agreement with Legacy Montana. On March 14, 2024, pursuant to the Merger Agreement, Merger Sub merged with and into
Legacy Montana, with Legacy Montana surviving the Merger as a wholly owned subsidiary of XPDB.

<div align='center'>F-16

AIRJOULE TECHNOLOGIES CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>

Note 4 — RECAPITALIZATION
(cont.)

As part of the Business Combination, the
holders of Legacy Montana equity securities (the “Legacy Montana Equityholders”) received consideration (the
“Merger Consideration”). After giving effect to the conversion of all outstanding Legacy Montana preferred
units into Legacy Montana Class B common units, which occurred prior to the effective time of the Merger, the Merger
Consideration was paid (i) in the case of holders of Legacy Montana Class B common units and Legacy Montana
Class C common units, in the form of newly issued shares of Class A common stock, with a $10.00 value ascribed to each
such share and which entitles the holder thereof to one vote per share on all matters submitted to a vote of the holders of
Class A common stock, whether voting separately as a class or otherwise, (ii) in the case of holders of Legacy Montana
Class A common units, in the form of newly issued shares of Class B common stock, with a $10.00 value ascribed to each
such share and which entitles the holder thereof to a number of votes per share such that the Legacy Montana Equityholders as of
immediately prior to the Closing, immediately following the Closing, collectively owned shares representing at least 80% of the
voting power of all classes of capital stock of the recapitalized company (the “Post-Combination Company”) entitled to
vote on matters submitted to a vote of the stockholders of the Post-Combination Company, and (iii) in the case of holders of
Legacy Montana options, each outstanding