FTC Solar settles FCX patent litigation for $1.5M cash plus 797,396 shares

FTC Solar, Inc.

Settlement agreement with FCX Solar on Dec 29, 2022, resolving breach-of-contract and fraud claims.
FTC pays $1.5M cash and issues 797,396 shares valued at ~$2.508/share (10-day VWAP).
Original lawsuit sought damages of approximately $134 million.
FCX grants FTC Solar a worldwide patent license covering all Company products.

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