Company: AIRJW
Filing Date: 2025-05-05
Form Type: 424B3
Source: 0001213900-25-039770
Chunk: 87

Company: AirJoule Technologies Corp.
Filing Date: 2025-05-05
Form: 424B3
Chunk 87
---
 LLC entered into a joint venture with GE Ventures LLC, the AirJoule JV which closed on March 4, 2024. For the
year ended December 31, 2024, we recognized a loss of $5.3 million from our 50% equity investment in the AirJoule JV.

Change in Fair Value of Earnout Shares Liability

Upon consummation of the Business Combination,
we expensed $53.7 million in Earnout Shares (as described in “— Earnout Shares Liability”) liability.
The change in fair value of $29.2 million for the year ended December 31, 2024 is due to a decrease in the estimated fair value
of the liability and is recognized as a gain in the consolidated statements of operations. The fair value of the liability decreased primarily
due to changes in the valuation inputs, mainly a decrease in the stock price, a change in the timing of future cash flows and an increase
in the volatility.

Change in Fair Value of True Up Shares Liability

Upon consummation of the Business Combination,
we assumed $0.6 million in earnout true up shares liability. The change in fair value of $1.6 million for the year ended December 31,
2024 is due to a decrease in our stock price. The increase in the estimated fair value of the liability was recognized as a loss in the
consolidated statements of operations.

<div align='center'>45</div>

Change in Fair Value of Subject Vesting Shares Liability

Upon consummation of the Business Combination,
we assumed $11.8 million for the subject vesting shares liability. The change in fair value of income of $4.0 million during
the year ended December 31, 2024 is due to a decrease in the estimated fair value of the liability recognized as a gain in the consolidated
statements of operations. The fair value of the liability decreased primarily due to changes in the valuation inputs, mainly a decrease
in the stock price, a change in the timing of future cash flows and an increase in the volatility.

Gain on Settlement of Legal Fees

During the year ended December 31, 2024,
we recognized a gain on the settlement of legal fees related to the transaction costs of the Business Combination. There were no such
gains in year ended December 31, 2023.

Income Tax Benefit (Expense)

Income tax expense was $81.3 million and
$0 for the year ended December 31, 202