Company: FTCI
Filing Date: 2025-07-25
Form Type: DEF 14A
Source: 0001193125-25-164759
Chunk: 8

Company: FTC Solar, Inc.
Filing Date: 2025-07-25
Form: DEF 14A
Chunk 8
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ANCE WITH NASDAQ LISTING RULE 5635(d), OF THE ISSUANCE OF AN AGGREGATE OF 6,836,237 SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF CERTAIN WARRANTS TO PURCHASE COMMON STOCK AND IN EXCESS OF THE EXERCISE CAPS APPLICABLE TO THE WARRANTS

We are seeking stockholder approval, in accordance with Nasdaq Listing Rule 5635(d), of the issuance of shares an aggregate of 6,836,237
shares of Common Stock issuable upon exercise of the Warrants to Purchase Common Stock, each dated July 2, 2025 (the “Warrants”) and issued by us to certain holders of the Warrants (the “Holders”) and in excess of the
Exercise Caps (as defined in the Warrants) applicable to the Warrants. Upon receipt of stockholder approval of this matter, we will be able to issue shares of Common Stock equal to or in excess of 20% of our Common Stock outstanding on the date the
Warrants were originally issued without further action from our stockholders and without violating Nasdaq rules.

The information set
forth in this Proposal No. 1 is qualified in its entirety by reference to the full text of the form Warrant attached as Exhibit 4.2 to our Current Report on Form 8-K filed with the Securities and Exchange
Commission (the “SEC”) on July 7, 2025.

Summary of General Terms of the Warrants

To bolster our balance sheet and to secure financing necessary for the operation of our business, we entered into a Credit Agreement, dated
July 2, 2025, by and among the Company, the lenders party thereto, and Acquiom Agency Services LLC, as administrative agent for the lenders (the “Credit Agreement”). The Credit Agreement provides for an initial term loan financing of
$37.5 million, of which $14,347,208 was funded on July 2, 2025. The Credit Agreement also provides for up to an additional $37.5 million in funding to be available to the Company as may be needed in the future upon mutual agreement
between the Company and the Lenders, for a total potential financing of $75 million.

On July 2, 2025, in connection with the
transactions under the Credit Agreement, we issued the Warrants to the Holders in a private placement in reliance upon an exemption from registration contained in Section 4(a)(2