Company: AIRJW
Filing Date: 2025-05-27
Form Type: POS AM
Source: 0001213900-25-047828
Chunk: 228

Company: AirJoule Technologies Corp.
Filing Date: 2025-05-27
Form: POS AM
Chunk 228
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 4 — Recapitalization,
on March 8, 2024, XPDB and an investor entered into a Subscription Agreement pursuant to which XPDB agreed to sell shares
of Class A common stock to the investor for an aggregate purchase price of approximately $ million, contingent on the Closing
of the Business Combination. The Subscription Agreement provides that, subject to certain conditions set forth therein, the Company may
be required to issue to the investor up to an additional shares of Class A common stock if the trading price of
the Class A common stock falls below the per share purchase price within one year of the Closing of the Business Combination. During
the year ended December 31, 2024, the Company’s volume-weighted average price of the Class A common stock on the Nasdaq
as reported by Bloomberg was less than $ (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the
like) for 15 consecutive trading days. As a result of this triggering event, the Company shall issue to the investor a number of
shares of Class A common stock within two business days of the one-year anniversary of the Closing Date. The True Up Shares
were accounted for as a liability recognized at fair value at each reporting period with changes in fair value included in earnings. See
Note 12 — Fair Value Measurements.

F-65 AIRJOULE TECHNOLOGIES CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 12 — FAIR VALUE MEASUREMENTS(cont.)

The following table presents the changes in the
fair value of the True Up Shares liability:

| True Up Share Liability as of December 31, 2023 |     | Year Ended   
 December 31, 
 2024         |         — |
|:------------------------------------------------|:----|:-------------|----------:|
| Assumed in the Business Combination             |     |              |   555,000 |
| Change in fair value                            |     |              | 1,634,000 |
| Balance as of December 31, 2024                 |     | $            | 2,189,000 |

The estimated fair value of the true up share
liability was determined utilizing a Monte Carlo simulation, with underlying forecast mathematics based on geometric Brownian motion in
a risk-neutral framework. The Calculation of the value of the True Up Shares considered the 15-day average price over the one-year period
following the Closing Date.

Subject Vesting Shares liability

In connection with the execution of