Solid Power Files 8-K on Material Definitive Agreement; Details Undisclosed

TL;DR

**Solid Power signed a big deal, but they're not telling us what it is yet.**

AI Summary

Solid Power, Inc. filed an 8-K on January 16, 2024, reporting an event on January 10, 2024, related to an "Entry into a Material Definitive Agreement." While the filing indicates a significant agreement, it does not disclose the specific details of the agreement itself, such as names, dollar amounts, or the nature of the transaction. This lack of detail means investors are currently in the dark about a potentially impactful corporate action, which could affect the company's future prospects and stock valuation.

Why It Matters

This filing signals a new, important agreement for Solid Power, Inc., but without details, investors can't assess its potential positive or negative impact on the company's financial health or strategic direction.

Risk Assessment

Risk Level: medium — The filing indicates a material agreement but provides no details, creating uncertainty and potential for future volatility once information is released.

Analyst Insight

Smart investors should monitor Solid Power for follow-up announcements or filings that will provide the crucial details of this 'Material Definitive Agreement' to assess its impact before making investment decisions.

Key Players & Entities

• Solid Power, Inc. (company) — the registrant filing the 8-K
• January 10, 2024 (date) — date of the earliest event reported
• January 16, 2024 (date) — date the 8-K was filed

Forward-Looking Statements

• Solid Power will release more details about the 'Material Definitive Agreement' in a subsequent filing or press release. (Solid Power, Inc.) — high confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.0001 — ch registered Common stock, par value $0.0001 per share SLDP The Nasdaq Stock Mar
• $11.50 — of common stock at an exercise price of $11.50 SLDPW The Nasdaq Stock Market LLC
• $20 million — Agreement, SK On will pay SP Operating $20 million between June 2024 and July 2027, subjec
• $10 million — ts to generate an aggregate of at least $10 million in revenue from sales of electrolyte un
• $22.3 million — , SK On will pay SP Korea approximately $22.3 million in three installments. The foregoing d

Filing Documents

• tm243261d1_8k.htm (8-K) — 44KB
• tm243261d1_ex10-1.htm (EX-10.1) — 110KB
• tm243261d1_ex10-2.htm (EX-10.2) — 91KB
• tm243261d1_ex10-3.htm (EX-10.3) — 114KB
• tm243261d1_ex99-1.htm (EX-99.1) — 18KB
• tm243261d1_ex99-1img001.jpg (GRAPHIC) — 4KB
• tm243261d1_ex99-1img002.jpg (GRAPHIC) — 228KB
• 0001104659-24-004160.txt ( ) — 991KB
• sldp-20240110.xsd (EX-101.SCH) — 3KB
• sldp-20240110_def.xml (EX-101.DEF) — 26KB
• sldp-20240110_lab.xml (EX-101.LAB) — 36KB
• sldp-20240110_pre.xml (EX-101.PRE) — 25KB
• tm243261d1_8k_htm.xml (XML) — 5KB

01

Item 1.01 Entry into a Material Definitive Agreement. On January 10, 2024, Solid Power Operating, Inc. (" SP Operating "), a wholly owned subsidiary of Solid Power, Inc. (the " Company ," " Solid Power ," " we ," or " our "), and SK On Co., Ltd. (" SK On ") entered into a Research and Development Technology License Agreement (the " R&D License Agreement ") and Electrolyte Supply Agreement (the " Electrolyte Supply Agreement "). On January 10, 2024, Solid Power Korea Co., Ltd. (" SP Korea "), a wholly owned subsidiary of the Company, SK On, and, for the limited purposes of Section 12.16 of the Line Installation Agreement, the Company entered into a Line Installation Agreement (the " Line Installation Agreement "). R&D License Agreement Pursuant to the terms of the R&D License Agreement, SP Operating granted SK On a license to certain of SP Operating's intellectual property relating to all-solid-state battery cell manufacturing (the " R&D License "). The R&D License allows, among other things, SK On to install and operate a pilot cell production line at SK On's facilities (the " SK On Line ") using SP Operating's proprietary information. The R&D License is limited to SK On's research and development activities and may not be used for commercial battery cell production. In consideration of the R&D License and other obligations of SP Operating and SK On in the R&D License Agreement, SK On will pay SP Operating $20 million between June 2024 and July 2027, subject to SP Operating and SP Korea achieving certain milestones. The foregoing description of the R&D License Agreement is qualified in its entirety by the full text of the R&D License Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference. Electrolyte Supply Agreement Pursuant to the terms of the Electrolyte Supply Agreement, SK On will purchase electrolyte from SP Operating in an amount necessary to validate that the SK On Line meets cert

01

Item 7.01 Regulation FD Disclosure. On January 16, 2024, the Company issued a press release announcing the transactions with SK On. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. Internet addresses in the press release are for informational purposes only and are not intended to be hyperlinks to other information of the Company. Such exhibit and the information set forth therein will not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), or otherwise be subject to the liabilities of that section, nor will it be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended (the " Securities Act "), or the Exchange Act.

Forward-Looking Statements

Forward-Looking Statements All statements other than or its management team's expectations, objectives, beliefs, intentions or strategies regarding the future. When used herein, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," "plan," "outlook," "seek," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Solid Power disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Readers are cautioned not to put undue reliance on forward-looking statements and Solid Power cautions you that these forward-looking statements are Power, including the following factors: (i) risks relating to the uncertainty of the success of our research and development efforts, including our ability to achieve the technological objectives or results that our partners require, and to commercialize our technology in advance of competing technologies; (ii) risks relating to the non-exclusive nature of our original equipment manufacturers and joint development agreement relationships; (iii) our ability to negotiate, execute, and

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. See the Exhibit index below, which is incorporated herein by reference. Exhibit No. Description 10.1 Research and Development Technology License Agreement, dated January 10, 2024, between Solid Power Operating, Inc. and SK On Co., Ltd. 10.2 Electrolyte Supply Agreement, dated January 10, 2024, between Solid Power Operating, Inc. and SK On Co., Ltd. 10.3 Line Installation Agreement, dated January 10, 2024, among Solid Power Korea Co., Ltd., SK On Co., Ltd., and, for the limited purposes of Section 12.16 of the Line Installation Agreement, Solid Power, Inc. 99.1 Press Release, dated January 16, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). Certain portions of this exhibit have been omitted in accordance with Regulation S-K Item 601. The Company agrees to furnish an unredacted copy of the exhibit to the SEC upon request. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Dated: January 16, 2024 SOLID POWER, INC. By: /s/ James Liebscher Name: James Liebscher Title: Chief Legal Officer and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR