Solid Power, Inc. Enters Material Definitive Agreement
Ticker: SLDPW · Form: 8-K · Filed: Jun 24, 2024 · CIK: 1844862
| Field | Detail |
|---|---|
| Company | Solid Power, Inc. (SLDPW) |
| Form Type | 8-K |
| Filed Date | Jun 24, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $11.50 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, filing-update
TL;DR
Solid Power signed a big deal, filing shows. Could be huge for battery tech.
AI Summary
On June 21, 2024, Solid Power, Inc. entered into a Material Definitive Agreement. The filing also includes financial statements and exhibits related to this agreement. Solid Power, Inc. is incorporated in Delaware and its principal executive offices are located in Louisville, Colorado.
Why It Matters
This filing indicates a significant new agreement for Solid Power, Inc., which could impact its future operations and financial performance in the solid-state battery sector.
Risk Assessment
Risk Level: medium — The filing details a material definitive agreement, which inherently carries business and financial risks associated with new contracts and potential performance obligations.
Key Players & Entities
- Solid Power, Inc. (company) — Registrant
- June 21, 2024 (date) — Date of earliest event reported
- Louisville, Colorado (location) — Principal executive offices
- Delaware (location) — State of incorporation
FAQ
What is the nature of the Material Definitive Agreement entered into by Solid Power, Inc. on June 21, 2024?
The filing indicates the entry into a Material Definitive Agreement, but the specific details of the agreement are not provided in this excerpt.
What are the primary business activities of Solid Power, Inc.?
Solid Power, Inc. is classified under 'MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES' (SIC code 3690), suggesting involvement in the electrical equipment manufacturing sector, likely related to battery technology given its name.
When was Solid Power, Inc. incorporated and where are its main offices located?
Solid Power, Inc. was incorporated in Delaware and its principal executive offices are located at 486 S. Pierce Avenue, Suite E, Louisville, Colorado, 80027.
What is the Commission File Number for Solid Power, Inc.?
The Commission File Number for Solid Power, Inc. is 001-40284.
What was Solid Power, Inc.'s former company name and when did the name change occur?
Solid Power, Inc.'s former company name was Decarbonization Plus Acquisition Corp III, and the date of the name change was February 8, 2021.
Filing Stats: 659 words · 3 min read · ~2 pages · Grade level 9.6 · Accepted 2024-06-24 08:30:41
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
Filing Documents
- tm2417798d1_8k.htm (8-K) — 31KB
- tm2417798d1_ex10-1.htm (EX-10.1) — 14KB
- 0001104659-24-074164.txt ( ) — 264KB
- sldp-20240621.xsd (EX-101.SCH) — 3KB
- sldp-20240621_def.xml (EX-101.DEF) — 26KB
- sldp-20240621_lab.xml (EX-101.LAB) — 36KB
- sldp-20240621_pre.xml (EX-101.PRE) — 25KB
- tm2417798d1_8k_htm.xml (XML) — 5KB
01
Item 1.01 Entry into a Material Definitive Agreement. On June 21, 2024, Solid Power Operating, Inc., a wholly owned subsidiary of Solid Power, Inc. (collectively, the "Company"), and BMW of North America, LLC ("BMW") entered into Amendment No. 5 to Joint Development Agreement, dated June 21, 2024 ("Amendment No. 5"). The Company and BMW previously entered into a Joint Development Agreement, dated July 1, 2017 (as amended, the "JDA"). Pursuant to the terms of Amendment No. 5, the Company and BMW agreed to (i) extend the term of the JDA to September 30, 2024 and (ii) revise the payment schedule under Amendment No. 4 to the JDA, effective November 1, 2022. BMW Holding B.V., an affiliate of BMW, has the right to nominate a director for election to the Company's board of directors (the "Board") as well as the right to designate an individual to attend meetings of the Board and its committees in a non-voting, observer capacity. The foregoing description of Amendment No. 5 is qualified in its entirety by the full text of Amendment No. 5, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. See the Exhibit index below, which is incorporated herein by reference. Exhibit No. Description 10.1 Amendment No. 5 to Joint Development Agreement, effective June 21, 2024, between Solid Power Operating, Inc. and BMW of North America, LLC. 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: June 24, 2024 SOLID POWER, INC. By: /s/ James Liebscher Name: James Liebscher Title: Chief Legal Officer and Secretary