Company: VGASW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015480
Chunk: 135

Company: Verde Clean Fuels, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 8
Chunk 135
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,000 shares of Class A common stock acquired by Holdings in the PIPE Financing.(d)Includes 253,125 and 825,000 shares of Class A common stock issued to the Sponsor and other investors, respectively, upon conversion of a portion of their current Class B common stock at Closing.(e)Includes 3,234,375 shares of Class A common stock issued to the Sponsor that are subject to forfeiture. These shares will no longer be subject to forfeiture upon the occurrence of the Triggering Events. Excludes 2,475,000 shares of Class A common stock issuable upon the exercise of warrants held by Sponsor (“Private Placement Warrants”).(f)Includes 3,500,000 shares of Class C common stock issuable to Holdings upon the occurrence of Triggering Events.(g)Excludes 12,937,479 and 2,475,000 shares of Class A common stock issuable upon the exercise of the warrants issued in the initial public offering (“Public Warrants” and, together with the Private Placement Warrants, the “Warrants”) and Private Placement Warrants, respectively.Total proceeds raised from the Business Combination were $37,329,178, consisting of $32,000,000 in PIPE Financing proceeds, $19,031,516 from the CENAQ trust, and $91,454 from the CENAQ operating account offset by $10,043,793 in transaction expenses which were recorded as a reduction to additional paid in capital and offset by a $3,750,000 capital repayment to Holdings.

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Table of Contents

NOTE 4 — PROPERTY, PLANT AND EQUIPMENT

Major classes of property, plant, and equipment are as follows:As ofDecember 31,2024December 31,2023Construction in progress$1,028,900 $- Computers, office equipment and hardware34,330 16,956 Furniture and fixtures47,256 47,256 Machinery and equipment43,799 43,799 Property, plant and equipment1,154,285 108,011 Less: Accumulated depreciation58,015 45,506 Property, plant and equipment, net$1,096,270 $62,505 The construction in progress balance is comprised of capitalized FEED costs, net of reimbursements to be received from Cottonmouth, related to the joint development of the Permian Basin Project. The construction in progress balance as of December