AIRJ 8-K: XPDB extends business combination deadline to Feb 14; Carrier invests in Montana Tech

XPDB extends business combination deadline to Feb 14; Carrier invests in Montana Tech

AirJoule Technologies Corp.

Carrier granted board nomination rights in Letter Agreement with Montana Technologies and the SPAC.

Carrier subscribes for Montana Class B Common Units convertible into 1,176,471 shares of Class A common stock upon close.

Deadline for business combination extended from January 14, 2024 to February 14, 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

AirJoule Technologies Corp. entered into Letter Agreement with Carrier Corporation valued at Agreement to provide Carrier rights to nominate board designee post business combination (effective 2024-01-07).

Action: entry
Counterparty: Carrier Corporation
Value: Agreement to provide Carrier rights to nominate board designee post business combination
Effective: 2024-01-07

Exact text from the filing

On January 7, 2024, Power & Digital Infrastructure Acquisition II Corp. (the “Company”) entered into a letter agreement (the “Letter Agreement”) with Montana Technologies LLC, a Delaware limited liability company (“Montana Technologies”) and Carrier Corporation, an affiliate of Carrier Global Corporation (NYSE: CARR), a global leader in intelligent climate and energy solutions (collectively with its affiliates, “Carrier”), pursuant to which Carrier, Montana Technologies and the Company agreed, among other things, to provide Carrier the right to nominate one (1) designee, subject to the approval of the Company, for election to the board of directors for so long as Carrier satisfies certain investment conditions, following the business combination between the Company and Montana Technologies.

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