Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 1233

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 7A
Chunk 1233
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 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 Legacy Montana option, whether vested or unvested, were converted into an option to purchase, upon the same
terms and conditions as are in effect with respect to the corresponding Legacy Montana option immediately prior to the Closing, including
with respect to vesting and termination-related provisions, a number of shares of Class A common stock (rounded down to the nearest
whole share) equal to the product of (x) the number of Legacy Montana common units underlying such option immediately prior
to the Closing and (y) the number of shares of Class A common stock issued in respect of each Legacy Montana common unit in
the Business Combination pursuant to the Merger Agreement, at an exercise price per share (rounded up to the nearest whole cent) equal
to (A) the exercise price per Legacy Montana common unit underlying such option immediately prior to the Closing divided by (B) the
number of shares of Class A common stock issued in respect of each Legacy Montana common unit in the Business Combination pursuant
to the Merger Agreement.

Immediately prior to the Closing, 100% of the total outstanding Legacy
Montana Class A common units and 7% of the total outstanding Legacy Montana Class B common units (or an aggregate of approximately 18%
of the total outstanding Legacy Montana Class A units and Legacy Montana Class B units) were held by unitholders that