secwatch.observer — SEC 8-K summary
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Issuer:     AirJoule Technologies Corp. (AIRJ)
CIK:        0001855474
Form:       8-K
Filed at:   2024-03-13T23:59:59+00:00
Accession:  0001213900-24-022247
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.55
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SPAC XPDB files adjusted pro forma balance sheet for Montana Technologies merger; 97.9% redemption rate
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- 10,381,983 shares redeemed at $10.86 each for total of $112.7M from trust; only 226,195 shares converted.
- Private placement and PIPE raise $53.995M: $48.995M Montana Common Units + $5M PIPE.
- Earnout shares up to 20M shares; fair value estimated at $83.7M; 71.6% treated as contingent consideration.
- Estimated transaction costs of $9.0M (XPDB) and $7.6M (Montana) accounted for in pro forma adjustments.
- Combined company shows total assets of $35.2M and stockholders' deficit of $40.6M after adjustments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1855474/000121390024022247/0001213900-24-022247-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1855474/000121390024022247/ea0201749-8k425_power2.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-022247

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