Company: FTCI
Filing Date: 2025-05-16
Form Type: S-3/A
Source: 0001193125-25-121719
Chunk: 61

Company: FTC Solar, Inc.
Filing Date: 2025-05-16
Form: S-3/A
Chunk 61
---
 Agreement with Wainwright as a source of financing. Therefore, the actual aggregate offering price, commissions and net proceeds are not determinable at this time.

S-14

DILUTION If you purchase shares of our common stock in this offering, you will experience dilution to the extent of the difference between the price per share you pay in this offering and the as adjusted net tangible book value per share of our common stock immediately after this offering. Our net tangible book value as of March 31, 2025 was approximately $7,396,000, or $0.57 per share. Net tangible book value per share represents our total tangible assets (total assets less intangible assets) less total liabilities, divided by the number of shares of our common stock outstanding as of March 31, 2025. Dilution in net tangible book value per share represents the difference between the amount per share paid by purchasers of shares of common stock in this offering and the as adjusted net tangible book value per share of our common stock immediately after giving effect to this offering. After giving effect to the sale of shares of our common stock having an aggregate offering price of up to $13,755,287 in this offering at an assumed offering price of $4.10, the last reported sale price of our common stock as reported on Nasdaq on May 14, 2025, and after deducting commissions and estimated total offering expenses payable by us, our as adjusted net tangible book value as of March 31, 2025 would have been approximately $20,739,000, or $1.26 per share. This represents an immediate increase in net tangible book value of $0.61 per share to existing stockholders and an immediate decrease in net tangible book value of $2.88 per share to new investors purchasing our common stock in this offering. The following table illustrates this dilution on a per share basis:

| Assumed offering price per share                                                           |     |       |     | $4.10 |
| Historical net tangible book value per share on March 31, 2025                             |     | $0.57 |     |       |
| Increase in net tangible book value per share attributable to this offering                |     | $0.70 |     |       |
| As adjusted net tangible book value per share as of March 31, 2025, after giving effect to 
 this offering                                                                              |     |       |     | $1.26 |
| Dilution per share to new investors in this