Form 8-K - Current report
05 Julio 2023 - 3:34PM
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
June 30, 2023
Solid
Power, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware |
|
001-40284 |
|
86-1888095 |
(State or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(I.R.S. Employer
Identification Number) |
486
S. Pierce Avenue, Suite E
Louisville, Colorado |
|
80027 |
(Address of principal executive offices) |
|
(Zip code) |
(303) 219-0720
(Registrant’s telephone number, including
area code)
Not Applicable
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
¨ | Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
¨ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
¨ | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
¨ | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading
Symbol(s) |
|
Name of each exchange
on which registered |
Common stock, par value $0.0001 per share |
|
SLDP |
|
The Nasdaq Stock Market LLC |
Warrants, each whole warrant exercisable for one share of common stock at an exercise price of $11.50 |
|
SLDPW |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405) or Rule 12b-2 of the Securities Exchange Act
of 1934 (§ 240.12b-2).
Emerging growth company ¨
If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 1.01 |
Entry into a Material Definitive Agreement. |
On June 30, 2023,
Solid Power Operating, Inc., a wholly owned subsidiary of Solid Power, Inc. (collectively, the “Company”), and Ford
Motor Company (“Ford”) entered into a Second Amendment to Joint Development Agreement, dated June 30, 2023 (the “Second
Amendment”). The Company and Ford previously entered into a Joint Development Agreement, dated December 28, 2018 (as modified
on May 5, 2021, the “JDA”). Pursuant to the terms of the Second Amendment, the Company and Ford agreed to (i) extend
the term of the JDA to December 31, 2024 and (ii) revise the schedule for the Company to deliver cells and electrolyte to Ford
during the term of the JDA.
The foregoing description
of the Second Amendment is qualified in its entirety by the full text of the Second Amendment, a copy of which is filed as Exhibit 10.1
to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits.
See the Exhibit index
below, which is incorporated herein by reference.
| ± | 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: July 5, 2023 | SOLID POWER, INC. |
| |
| By: |
/s/ James Liebscher |
| |
Name: James Liebscher |
| |
Title: Chief Legal Officer and Secretary |
| |
Exhibit 10.1
CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED
FROM THE EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.
[***] INDICATES THAT INFORMATION HAS BEEN REDACTED.
Second Amendment to Joint Development Agreement
This Amendment (“Second Amendment”)
to the Joint Development Agreement effective December 28, 2018 (“JDA”) and modified by the Series B Preferred Stock
Financing Letter dated May 5, 2021 (“Financing Letter”), is by and between Ford Motor Company, located at One American
Road, Dearborn, MI 48126 (“Ford”) and Solid Power Operating, Inc., located at 486 S. Pierce Avenue, Suite E, Louisville,
CO 80027 (“Solid Power”). Ford and Solid Power may be referred to individually as a “Party” or collectively as
the “Parties,” as the context requires. This Second Amendment is effective as of the date of the last party to sign.
RECITALS
WHEREAS, the initial termination date
of the JDA was December 31, 2020; and
WHEREAS, the JDA termination date was
extended to June 30, 2023, in the last sentence of Section 1 of the Financing Letter; and
WHEREAS, the Parties would like to further
extend the JDA termination date to December 31, 2024; and
WHEREAS, the Parties have discussed and
agreed on a schedule for certain cell deliverables by Solid Power during the extended period of the JDA, and
WHEREAS, the Parties now seek to amend
the JDA in accordance with these objectives.
NOW,
THEREFORE, BE IT RESOLVED that:
| 1. | The termination date in Article 7 of the Ford JDA is extended to December 31, 2024, at no additional cost to Ford. |
| 2. | The cell [* * *] deliverable timelines and material (kilograms of sulfide electrolyte) quantities outlined in Attachment A of the
JDA is replaced with the following schedule for the extended period. |
[* * *]
| 3. | The hardware designated for [* * *] will be used by Solid Power to [* * *] to be performed/contracted at Solid Power’s expense
and with test conditions agreed upon by Ford. |
| 4. | All other terms and conditions of the JDA remain unchanged, including terms in the Financing Letter applicable to the JDA. |
| 5. | This
Second Amendment may be executed in multiple counterparts, each of which shall be deemed an original and all of which together shall constitute
one and the same document. A faxed signature or other electronically transmitted signature (via a .pdf file) on this Second Amendment
will have the same legal force and effect as though it were the original of such signature. |
IN WITNESS WHEREOF, the Parties hereto
have caused this Second Amendment to be executed by their duly authorized representatives:
Ford Motor Company |
| Solid
Power Operating, Inc. |
|
| |
By |
/s/ Ted Miller |
| By |
/s/
James Liebscher |
|
(Ford Authorized Signature) |
| |
(Solid
Power Authorized Signature) |
|
| |
|
Ted Miller |
| |
James Liebscher |
|
(Printed Name) |
| |
(Printed Name) |
|
| |
Its |
Manager |
| Its |
Chief Legal Officer |
|
(Ford Signatory’s Title) |
| |
(Solid
Power Signatory’s Title) |
|
| |
Date |
Jun-30-2023 |
| Date |
June 29, 2023 |
v3.23.2
Cover
|
Jun. 30, 2023 |
Document Information [Line Items] |
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Document Type |
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Amendment Flag |
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|
Document Period End Date |
Jun. 30, 2023
|
Entity File Number |
001-40284
|
Entity Registrant Name |
Solid
Power, Inc.
|
Entity Central Index Key |
0001844862
|
Entity Tax Identification Number |
86-1888095
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
486
S. Pierce Avenue
|
Entity Address, Address Line Two |
Suite E
|
Entity Address, City or Town |
Louisville
|
Entity Address, State or Province |
CO
|
Entity Address, Postal Zip Code |
80027
|
City Area Code |
303
|
Local Phone Number |
219-0720
|
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Entity Emerging Growth Company |
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Common Stock [Member] |
|
Document Information [Line Items] |
|
Title of 12(b) Security |
Common stock, par value $0.0001 per share
|
Trading Symbol |
SLDP
|
Security Exchange Name |
NASDAQ
|
Warrant [Member] |
|
Document Information [Line Items] |
|
Title of 12(b) Security |
Warrants, each whole warrant exercisable for one share of common stock at an exercise price of $11.50
|
Trading Symbol |
SLDPW
|
Security Exchange Name |
NASDAQ
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