Company: FTCI
Filing Date: 2025-07-25
Form Type: DEF 14A
Source: 0001193125-25-164759
Chunk: 9

Company: FTC Solar, Inc.
Filing Date: 2025-07-25
Form: DEF 14A
Chunk 9
---
) under the Securities Act of 1933, as amended. The Warrants are
exercisable, in the aggregate, for up to 6,836,237 shares of Common Stock for an exercise price of $0.01 per share. The Warrants are exercisable from time to time until or prior to 11:59 p.m., New York time, on July 2, 2035. The Warrants are
exercisable in accordance with their terms for either a cash payment equal to the exercise price or on a cashless exercise basis.

In the
event of a change of control of the Company, a Holder may, at its option, elect to exercise its Warrants or exercise a repurchase option that requires the Company to repurchase its Warrants upon the consummation of the change of control for a cash
amount equal to the Black Scholes Value (as defined in the Warrants). Additionally, the Warrants provide each Holder with a pro rata purchase right (based on the total number of shares of Common Stock held by a Holder and the number of shares
issuable upon exercise of the Warrants) in the event the Company issues any equity securities, convertible securities or rights, options or warrants to purchase equity securities, subject to customary exceptions and conditions. A Holder of the
Warrants may not exercise any portion of such Holder’s Warrants to the extent that the Holder, together with its affiliates, would beneficially own more than 4.99% (or, at the election of the Holder, 9.99%) of the Company’s outstanding
shares of Common Stock immediately after exercise, except that upon at least 61 days’ prior notice from the Holder to the Company, the Holder may increase the beneficial ownership limitation to up to 9.99% of the number of shares of Common
Stock outstanding immediately after giving effect to the exercise. The foregoing beneficial ownership limitation terms do not apply to the Warrants issued to AV Securities, Inc. (“AV Securities”). The Warrants include other customary terms
and provisions, including adjustment provisions relating to stock splits, stock dividends, reclassifications and other recapitalization events.

4

Except as otherwise provided in the Warrants or by virtue of a Holder’s ownership of
shares of Common Stock, such Holder of the Warrant does not have the rights or privileges of a holder of Common Stock, including any voting rights, until such Holder exercises such Holder’s Warrants. The Warrants provide that the Holders of the