Company: VGASW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025504
Chunk: 36

Company: Verde Clean Fuels, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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) the product of the number of shares of Class A common stock underlying the Warrants, multiplied by the difference between the exercise price of the Warrants and the “fair market value” (defined below) by (y) the fair market value. The “fair market value” for this purpose will mean the average reported last sale price of the shares of Class A common stock for the five trading days ending on the trading day prior to the date of exercise. The Warrants will expire on February 15, 2028, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.The Company may call the Warrants for redemption, in whole and not in part, at a price of $0.01 per warrant:•at any time after the Warrants become exercisable;•upon not less than 30 days’ prior written notice of redemption to each Warrant holder;•if, and only if, the reported last sale price of the shares of Class A common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations), for any 20 trading days within a 30-trading day period commencing at any time after the Warrants become exercisable and ending on the third business day prior to the notice of redemption to Warrant holders; and•if, and only if, there is a current registration statement in effect with respect to the shares of Class A common stock underlying such Warrants.

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If and when the Warrants become redeemable by the Company, the Company may exercise its redemption right even if it is unable to register or qualify the underlying securities for sale under all applicable state securities laws.No Warrants were exercised during the three months ended March 31, 2025 and 2024.

NOTE 10 – LOSS PER SHARE

Loss per shareThe following table sets forth the computation of net loss used to compute basic net loss per share of Class A common stock.Three Months EndedMarch 31,20252024Net loss attributable to Verde Clean Fuels, Inc.$(1,246,711)$(772,371)Basic weighted-average shares outstanding14,808,300 6,173,716 Dilutive effect of share-based awards- - Diluted weighted-average shares outstanding14,808,300 6,173,716 Basic loss per share$(0.08)$(0.13)Diluted loss per share$(0.08)