Highest-materiality recent filing
AirJoule Q2 update: Kubota exclusive deal, $41.4M cash, 2026 spend guidance raised
Cash of $41.4M at Q2 end, no debt; includes $14.2M net proceeds from June registered direct offering.
AirJoule Technologies raises $15M in registered direct offering at $4.10/share
3,658,536 shares issued at $4.10 each; gross proceeds ~$15M, net ~$14.2M.
AirJoule completes first full-scale AirJoule Prime build; Q1 cash $31.1M, no debt
First full-scale AirJoule Prime system (~2,000 L/day) built and operational in Newark, Delaware; second unit underway.
AirJoule Technologies prices public offering of 6.15M shares at $3.25; expects $19.3M net proceeds
Priced underwritten public offering of 6,153,847 shares of Class A common stock at $3.25 per share.
AirJoule proposes public offering; cash $21.8M; adds $5M to GE Vernova JV; Red Dot Ranch partnership
Proposed public offering of Class A common stock; size, price, and timing not yet determined. Lucid Capital Markets sole book-runner.
AirJoule reports Q3 cash $26M, advances toward 2026 commercialization
Ended Q3 with $26.0M cash; made $2.75M capital contribution to GE Vernova JV.
AirJoule tech: $15M PIPE from GE Vernova, ASU purchase, Dubai deployment
Completed $15M private placement led by GE Vernova; net proceeds to accelerate A1000 commercialization.
AirJoule raises $15M via PIPE anchored by GE Vernova; launches waste heat-to-water project
Issued ~3.75M new shares at ~$4.00/sh for $15M gross proceeds; expected close April 25, 2025.
AirJoule enters $30M equity line with B. Riley; can sell shares at 3-5% discount over 36 months
Company may sell up to $30M of newly issued Class A common stock to B. Riley Principal Capital II, LLC on a discretionary basis.
AirJoule system achieves <160 Wh/L water from air; $30M equity facility with B. Riley
AirJoule system produces pure distilled water at <160 Wh/L using low-grade waste heat, up to 4x more efficient than refrigerant systems.
Montana Technologies Q2 2024: No revenue reported; progress on AirJoule commercialization
Signed MOUs with TenX (UAE) and CIC (Australia) for AirJoule water production deployments.
Montana Technologies to restate Q1 2024 financials due to JV accounting error
Company consolidated AirJoule JV in Q1; should have used equity method.
Private placement of ~1.2M Class A common shares for ~$12M gross proceeds to fund AirJoule commercialization.
Business combination with Legacy Montana closed March 14, 2024; $50M minimum cash condition exceeded; stock and warrants trade under AIRJ and AIRJW.
Business combination consummated March 14; XPDB redemptions of 10,381,983 shares at ~$10.85/share.
XPDB closes business combination with Montana Technologies; shares to trade as AIRJ
Shareholders approved all proposals at March 8 meeting; 13.1M shares voted for the business combination.
As of March 4, 2024, aggregate transaction proceeds expected at closing exceed $50M from additional subscription agreements.
XPDB lowers minimum business combination proceeds condition from $85M to $50M
First Amendment to Business Combination Agreement reduces required Aggregate Transaction Proceeds from $85M to $50M.
Montana Tech & GE Vernova form 50/50 JV; Insiders subscribe $5M for 588K XPDB shares
JV with GE Vernova (AirJoule JV) to combine sorbent materials and AirJoule water capture tech; each holds 50% interest.
XPDB signs Investment Agreement with CATL capping ownership at 9.8% in Montana deal
CATL parties agree to ≤9.8% economic/voting ownership in post-combination company; excess must be divested within 5 business days.
XPDB extends deadline to Dec 14, 2023; ~18.1M shares redeemed for $188M
Stockholders approved extension of business combination deadline from June 14 to December 14, 2023, with possible monthly extensions to March 14, 2024.
Power & Digital Infrastructure SPAC sees ~63% redemption ahead of Extension vote
18,141,822 shares redeemed as of June 7, 2023, in connection with Extension proposal.
XPDB agrees to acquire Montana Technologies for ~$421.9M; earnout up to $200M
Aggregate consideration of ~$421.9M to Montana equityholders, payable in Class A common stock at $10/share.
SPAC PDI Acquisition II raises $287.5M in IPO; private placement adds $11.1M
IPO of 28,750,000 units at $10.00/unit completed Dec 14, 2021; gross proceeds $287.5M.
Montana Technologies Corporation (the “ Company ”) announced the expansion of its management team, including the appointment of Stephen Pang as the Company’s Chief Financial Officer.
In connection with Mr. Pang’s appointment, Jeff Gutke, who previously served as the Company’s Chief Financial Officer, transitioned to become the Company’s Chief Administrative Officer.
appointed Kyle Derham as a Class II director of the Board, effective immediately.
Patrick C. Eilers, a current member of the Board, was appointed to serve as Chairman of the Board.
Max materiality 0.90 · Median 0.60 · Most common event other_material