Company: AIRJW
Filing Date: 2025-05-16
Form Type: POS AM
Source: 0001213900-25-044504
Chunk: 166

Company: AirJoule Technologies Corp.
Filing Date: 2025-05-16
Form: POS AM
Chunk 166
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 common stock were converted on a one-for-one basis into shares of Class A common stock. As a result of the conversion, the Company is no longer authorized to issue shares of Class B common stock. F-25 AIRJOULE TECHNOLOGIES CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 10 — STOCKHOLDERS’ EQUITY (DEFICIT)(cont.)

Warrants

In January, February and March 2024, 14 warrant
holders of Legacy Montana exercised their warrants to purchase a total of Class A common stock, as converted, for a total
purchase price of $.

As part of XPDB’s initial public offering
(“IPO”), XPDB issued warrants to 37 third-party investors where each whole warrant entitles the holder to
purchase share of the Company’s Class A common stock at an exercise price of $ per share (the “Public Warrants”).
Simultaneously with the closing of the IPO, XPDB completed the private sale of warrants where each warrant allows the
holder to purchase share of the Company’s Class A common stock at $ per share. In June 2024, 10 third-party investors
exercised their Public Warrants on a cashless basis for a total of Class A shares of the Company. In August 2024,
Private Placement warrants were transferred.

As of December 31, 2024, there are
Public Warrants and Private Placement warrants outstanding.

The Private Placement Warrants (including the
common stock issuable upon exercise of the Private Placement Warrants) were not transferable, assignable or saleable until 30 days
after the consummation of the Business Combination (except, among other limited exceptions, to the Company’s officers and directors
and other persons or entities affiliated with the XPDB’s sponsor and anchor investors) and they will not be redeemable by the
Company. The Private Placement Warrants have terms and provisions that are identical to those of the Public Warrants, including as to
exercise price, exercisability and exercise period, except that the Private Placement Warrants are exercisable on a cashless basis and
are non-redeemable.

If holders of the Private Placement Warrants elect
to exercise them on a cashless basis, they would pay the exercise price by surrendering their warrants for that number of shares of the Company’s
common stock equal to the quotient obtained by dividing (x) the product of the number of shares of the Company’s common
stock