Advent Technologies Holdings, Inc 8-K/A, filed Mar 26, 2021

Advent Technologies Holdings, Inc. (ADNH)

8-K/A 2021-03-26 For: 2021-02-04

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Added on April 11, 2026

About this 8-K/A

Advent Technologies Holdings, Inc filed this 8-K/A on March 26, 2021, reporting on events of February 4, 2021.

Items reported

Item 2.01: Completed an acquisition or sale of assets
Item 9.01: Financial statements and exhibits

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Delaware		001-38742		83-0982969
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

☐	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))

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.0001 per share	ADN	The Nasdaq Stock Market LLC
Warrants to purchase one share of common stock, each at an exercise price of $11.50	ADNWW	The Nasdaq Stock Market LLC

Exhibit No.		Description
10.1		Lease Agreement, dated as of March 8, 2021, by and between Advent Technologies, Inc. and Hood Park LLC.
99.1		Management’s Discussion and Analysis of Financial Condition and Results of Operations of the Company as of and for the fiscal years ended December 31, 2020.
99.2		Audited financial statements of Advent Technologies Inc. as of and for the years ended December 31, 2020 and December 31, 2019.
99.3		Unaudited Pro Forma Condensed Combined Financial Information as of December 31, 2020.

	ADVENT TECHNOLOGIES HOLDINGS, INC.

	By:	/s/ Vassilios Gregoriou
Dated: March 26, 2021		Name:	Vassilios Gregoriou
		Title:	Chairman and Chief Executive Officer

LEASE

LANDLORD:	Hood Park LLC, a Massachusetts limited liability company

TENANT:	Advent Technologies, Inc., a Delaware corporation

PREMISES:	Hood Park, Charlestown, Massachusetts

DATED:	March 5, 2021

	TABLE OF CONTENTS

ARTICLE CAPTION		PAGE

ARTICLE I		4
(A) SUBJECTS REFERRED TO:		4
(B) EXHIBITS		6
ARTICLE II		7
ARTICLE III		7
(A) TERM		7
(B) DELIVERY		8
(C) TENANT’S WORK		8
(D) GENERAL CONSTRUCTION PROVISIONS		9
(E) TENANT ALLOWANCE		9
ARTICLE IV		10
(A) LANDLORD’S COVENANTS DURING THE TERM:		10
(B) INTERRUPTIONS		11
ARTICLE V		11
(A) FIXED RENT		11
(B) ADDITIONAL RENT - TAXES		12
(C) ADDITIONAL RENT - OPERATING COSTS		13
(D) MONTHLY PAYMENTS		15
(E) ADDITIONAL RENT - ELECTRICITY, GAS, WATER & SEWER		15
ARTICLE VI		16
ARTICLE VII		21
(A) EVENTS OF DEFAULT		21
(B) OBLIGATIONS THEREAFTER		22
ARTICLE VIII		22
(A) CASUALTY AND TAKING		22
(B) RESERVATION OF AWARD		23
ARTICLE IX		23
(A) SUBORDINATION TO MORTGAGES		23
(B) LIMITATION ON MORTGAGEE’S LIABILITY		24

(C) NO RELEASE OR TERMINATION		24
ARTICLE X		25
(A) CAPTIONS		25
(B) SHORT FORM LEASE		25
(C) INTENTIONALLY DELETED		25
(D) NOTICES		25
(E) SUCCESSORS AND ASSIGNS		26
(F) NO SURRENDER		26
(G) WAIVERS AND REMEDIES		26
(H) SELF-HELP		27
(I) ESTOPPEL CERTIFICATE		27
(J) WAIVER OF SUBROGATION		27
(K) BROKERS		28
(L) LANDLORD’S DEFAULTS		28
(M) EFFECTIVENESS OF LEASE		28
(N) HAZARDOUS MATERIALS		29
ARTICLE XI		31
ARTICLE XII		33
ARTICLE XIII		33
(A) OPTION TERM		33
(B) OPTION RENT		34
ARTICLE XIV		35

	Exhibit A	Plan Showing Location of The Building
	Exhibit A-1	Plan Showing Demised Premises
	Exhibit B-1	Landlord’s Delivery Conditions
	Exhibit B-2	Tenant’s Work
	Exhibit C	Landlord’s Services
	Exhibit D	Rules and Regulations
	Exhibit E	Legal Description of Lot
	Exhibit F	List of Hazardous Substances and Materials

LANDLORD’S ADDRESS:	6 Kimball Lane Lynnfield, Massachusetts 01940

LANDLORD’S MANAGING AGENT:	Nordblom Company 71 Third Avenue Burlington, Massachusetts 01803

TENANT’S ADDRESS:	Prior to the Commencement Date:

	200 Clarendon Street Boston, MA 02116

	After the Commencement Date:

	500 Rutherford Avenue Charlestown, Massachusetts 02129

Date of Reduction of Letter of Credit	Amount of Reduction to Letter of Credit	Remaining Amount of Letter of Credit
The last day of the Forty- Eighth (48^th) full calendar month following the Rent Commencement Date	$375,000.00	$375,000.00
The last day of the Seventy-Second (72^nd) full calendar month following the Rent Commencement Date	$125,000.00	$250,000.00

	LANDLORD:

	HOOD PARK LLC,
	a Massachusetts limited liability company

	By:	Catamount Management Corporation
		Its Manager

		By:	/s/ Christopher P. Kaneb
		Name:	Christopher P. Kaneb
		Title:	Vice President

	TENANT:

	ADVENT TECHNOLOGIES INC.
	a Delaware corporation

	By:	/s/ Vasilis Gregoriou
	Name:	Vasilis Gregoriou
	Title:	Chairman and Chief Executive Officer

Name	Phase	Quantity	Unit	CAS
Phosphoric acid, 85%	Liquid	4	2.5L	7664-38-2
Cyclopentanone, 99%	Liquid	1	1kg	120-92-3
Cyclopentanone, 99%	Liquid	1	10kg	120-92-3
Isopropyl alcohol, 99%	Liquid	1	4L	67-63-0
Methyl alcohol, 99%	Liquid	1	18L	67-51-1
Pluronic L101	Liquid	6	300g
Pluronic 25R4	Liquid	2	300g
BYK 381	Liquid	1	300g
BYK 3441	Liquid	1	100g
EFKA 4580	Liquid	1	400g
EFKA 4585	Liquid	2	80g
Tergitol TMN6, 90%	Liquid	2	1qt	60828-78-6
Surfynol 355	Liquid	1	8oz
TEGO GLIDE 496	Liquid	1	4floz
Polyox WSR301	Solid	3	8oz	25322-68-3
Glycerol, 99%	Liquid	1	500mL	56-81-5
Polytetrafluoroethylene	Liquid	1	100g	9002-84-0
Tetraethylammonium bicarbonate,
95%	Solid	1	25g	17351-61-0
Soltex Carbon, 100%	Solid	1	100g	1333-86-4
Platinum on Carbon	Solid	4	1kg	7440-06-4
Platinum-alloy on Carbon	Solid	10	50g	7440-06-4
Vanadium(IV) sulfate oxide hydrate,
99%	Solid	1	250g	123334-20-3
Potassium chloride, 99%	Solid	1	500g	7447-40-7
Iron(II) chloride tetrahydrate, 99%	Solid	1	250g	13478-10-9
Magnesium sulfate, 99%	Solid	1	500g	7487-88-9

Gas	Quantity
Hydrogen	4
Reformate (70% H2, bal. CO/CO2/N2)	2
Oxygen	2
Air	4
Nitrogen	2


ALL TANKS SIZE 300 (260ft3 per tank)

•	Expand U.S.-based operations to increase capacity for MEA testing, development projects and associated research and development activities;
•	Expand Greece-based production facilities to increase and automate MEA assembly and production;
•	Develop improved MEA and other products for both existing and new markets, such as ultra-light MEAs designed for aviation applications, to remain at the forefront of the fast-developing hydrogen economy;
•	Increase business development and marketing activities;
•	Increase headcount in management and head office functions in order to appropriately manage Advent’s increased operations;
•	Improve its operational, financial and management information systems;
•	Obtain, maintain, expand, and protect its intellectual property portfolio; and
•	Operate as a public company.

	Years ended December 31,
	2020	2019	$ change	% change
	(dollar amounts in thousands)

Revenue, net	883	620	263	42.4	%
Cost of revenues	(514)	(397)	(117)	29.5	%
Gross profit	369	223	146	65.5	%

Income from grants	207	602	(395)	(65.6)	%
Research and development expenses	(103)	(125)	22	(17.6)	%
Administrative and selling expenses	(3,537)	(864)	(2,673)	309.4	%
Other operating expenses	(10)	(10)	0	-	%
Operating loss	(3,074)	(174)	(2,900)	1,666.7	%

Finance costs	(6)	(72)	66	(91.7)	%
Finance costs – Related parties	-	(35)	35	(100.0)	%
Foreign exchange differences, net	(26)	12	(38)	(316.7)	%
Other income	-	1	(1)	(100.0)	%
Other expenses	(16)	(2)	(14)	(700.0)	%
Loss before tax	(3,122)	(270)	(2,852)	1,056.3	%

Income tax expense	-	(88)	88	(100.0)	%
Net loss	(3,122)	(358)	(2,764)	772.1	%
Other Comprehensive income / (loss)
Net foreign currency translation	(7)	(10)	3	(30.0)	%

Other Comprehensive income / (loss)	(3,129)	(368)	(2,761)	750.3	%
Comprehensive loss

		Page

Report of Independent Registered Public Accounting Firm		F-2

Consolidated Balance Sheets as of December 31, 2020 and 2019		F-3

Consolidated Statements of Operations for the years ended December 31, 2020 and 2019		F-4

Consolidated Statements of Comprehensive Loss for the years ended December 31, 2020 and 2019		F-5

Consolidated Statements of Changes of Stockholders’ Deficit for the years ended December 31, 2020 and 2019		F-6

Consolidated Statements of Cash Flows for the years ended December 31, 2020 and 2019		F-7

Notes to the Consolidated Financial Statements		F-8

		December 31,
	Notes		2020		2019
ASSETS
Current assets
Cash and cash equivalents		$	515,734	$	1,199,015
Accounts receivable, net	2.8		421,059		316,438
Due from related parties	3		67,781		-
Contract assets	2.15,14		85,930		51,936
Inventories	4		107,939		32,440
Prepaid expenses			1,724		2,642
Other current assets	5		495,021		219,003
Total current assets			1,695,188		1,821,474

Non-current assets
Property and equipment, net	6		198,737		84,977
Other non-current assets			136		125
Total non-current assets			198,873		85,102
Total Assets		$	1,894,061	$	1,906,576

LIABILITIES
Current liabilities

Convertible Promissory Notes-Related parties	3, 10	$	-	$	500,000
Trade and other payables	7		881,394		307,822
Due to related parties	3		1,114,659		1,243,424
Deferred income from grants, current	2.20		158,819		79,591
Contract liabilities, current	2.15,14		167,761		38,728
Other current liabilities	8		904,379		167,480
Income tax payable	13		201,780		194,000
Total current liabilities			3,428,792		2,531,045

Non-current liabilities
Liability for Staff Leaving Indemnity	9		33,676		28,853
Deferred income from grants, non-current	2.20		182,273		180,480
Other long-term liabilities	18		42,793		-
Total non-current liabilities			258,742		209,333
Total liabilities			3,687,534		2,740,378

Commitments and contingent liabilities	17		-		-

STOCKHOLDERS’ DEFICIT
Common stock ($0.001 par value per share; Shares authorized: 6,591,595 at December 31, 2020 and 2019; Issued and outstanding: 3,017,057 and 888,184 at December 31, 2020 and 2019)	11		3,017		888
Preferred stock Series A ($0.001 par value per share; Shares authorized: 1,300,000 at December 31, 2020 and 2019; Issued and outstanding: 844,037 and 314,505 at December 31, 2020 and 2019)	11		845		315
Preferred stock Series seed ($0.001 par value per share; Shares authorized: 2,108,405 at December 31, 2020 and 2019; Issued and outstanding: 2,095,592 and 2,108,405 at December 31, 2020 and 2019)	11		2,095		2,108
Additional Paid in Capital	11		10,990,307		8,811,647
Accumulated other comprehensive income			111,780		118,859
Accumulated Deficit			(12,901,518)		(9,767,619)
Total stockholders’ deficit			1,793,474		(833,802)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT		$	1,894,061	$	1,906,576

		Years ended December 31,
	Note		2020		2019

Revenue, net	14	$	882,652	$	620,168
Cost of revenues			(513,818)		(397,393)
Gross profit			368,834		222,775

Income from grants	2.20		206,828		601,945
Research and development expenses			(102,538)		(124,728)
Administrative and selling expenses			(3,536,889)		(863,573)
Other operating expenses			(9,967)		(10,156)
Operating Loss		$	(3,073,732)	$	(173,737)

Finance costs	15		(5,542)		(72,117)
Finance costs-Relates parties	3		-		(34,541)
Foreign exchange differences, net			(26,072)		11,883
Other income			-		568
Other expenses			(15,696)		(2,483)
Loss before tax		$	(3,121,042)	$	(270,427)

Income tax expense	13		-		(87,827)
Net loss		$	(3,121,042)	$	(358,254)

	No. of shares	Common Stock	No. of shares	Common Stock Class A	No. of shares	Common Stock Class B	No. of shares	Preferred stock series A	No. of shares	Preferred stock series seed	Additional Paid in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Total Stockholders’ Deficit

As at January 1, 2019	-	$ -	67,982	$ 68	668,354	$ 668	-	$ -	-	$ -	$ 4,520,138	$ (9,409,365)	$ 128,639	$ (4,759,852)
Net loss	-	$ -	-	$ -	-	$ -	-	$ -	-	$ -	$ -	$ (358,254)	$ -	$ (358,254)
Other comprehensive loss	-	-	-	-	-	-	-	-	-	-	-	-	(9,780)	(9,780)
Conversion of Convertible Promissory Notes (Note 10)	-	-	-	-	-	-	-	-	1,681,453	1,681	2,767,888	-	-	2,769,569
Exchange of common stock A & B to common stock	736,336	736	(67,982)	(68)	(668,354)	(668)	-	-	-	-	-	-	-	-
Exercise of stock options (Note 11)	151,848	152	-	-	-	-	-	-	-	-	1,366	-	-	1,518
Issuance of preferred stock (Note 11)	-	-	-	-	-	-	314,505	315	426,952	427	1,348,361	-	-	1,349,103
Extinguishment of Convertible Promissory Notes-Related parties	-	-	-	-	-	-	-	-	-	-	173,894	-	-	173,894
At December 31, 2019	888,184	$ 888	-	$ -	-	$ -	314,505	$ 315	2,108,405	$ 2,108	$ 8,811,647	$ (9,767,619)	$ 118,859	$ (833,802)
Net loss for the year												(3,121,042)		(3,121,042)
Other comprehensive loss													(7,079)	(7,079)
Issuance of common stock from stock grant plan	2,173,702	2,174									19,582			21,756
Repurchase of common stock - cancellation of shares	(44,829)	(45)							(12,813)	(13)	(139,878)	(12,857)		(152,793)
Recognition of stock grant plan	-										869,481			869,481
Share capital increase	-						529,532	530			1,429,475			1,430,005
At December 31, 2020	3,017,057	$ 3,017	-	$ -	-	-	844,037	$ 845	2,095,592	$ 2,095	$ 10,990,307	$ (12,901,518)	$ 111,780	$ 1,793,474

		Property and Equipment	Accumulated Depreciation	Exchange Differences	Net Book Value
Balance January 1, 2019	$	206,946	(137,278)	(2,158)	67,510
Additions		34,935	-	-	34,935
Depreciation for the year		-	(16,804)	-	(16,804)
Write off of fully depreciated asset		(6,672)	6,672	-	-
Exchange differences		-	-	(664)	(664)
Balance December 31, 2019	$	235,209	(147,410)	(2,822)	84,977
Additions		122,508			122,508
Depreciation for the year			(22,508)	-	(22,508)
Write off of fully depreciated asset		(33,911)	33,911	-	-
Exchange differences				13,760	13,760
Balance December 31, 2020	$	323,806	(136,007)	10,938	198,737

	Interest rate		December 31,
	Interest rate		2020		2019
	%
Senior secured Convertible Promissory Notes – (“PTCF Note”)	8%		-	$	500,000
Total Convertible Promissory Notes (Related Party)		$	-	$	500,000

	Number of non-vested shares		Grant date fair value per non-vested shares
Balance January 1, 2020	-	$	-
Granted	2,173,702	$	0.40
Vested	(2,173,702)		0.40
Balance December 30, 2020	-	$	-

	2020
	Amount		Percent of Pretax Income
Current tax at U.S. statutory rate	$	(655,419)		21.00%
Effect of state tax		(78,345)		2.51%
Effect of valuation allowance		213,463		(6.84)%
Non-US change in tax rate		-		-
Effect of non-US income tax rates		2,391		(0.08)%
Net Operating Loss True-Up		154,533		(4.95)%
Effect of non-deductible expenses		184,425		(5.91)%
Change in tax reserves		-		-
Stock Compensation		182,591		(5.85)%
Other, net		(3,639)		(0.12)%
Total Income Tax Provision	$	-		0%

		2020		2019
Sales of goods	$	882,652	$	620,168
Total revenue from contracts with customers	$	882,652	$	620,168

Timing of revenue recognition		2020		2019
Goods transferred at a point in time	$	795,033	$	493,087
Goods transferred over time		87,619		127,081
Total revenue from contracts with customers	$	882,652	$	620,168

		2020		2019
Interest cost on benefit obligation	$	-	$	292
Bank fees		5,542		4,237
Other financing costs		-		67,588
Total finance costs	$	5,542	$	72,117

Finance costs - related parties		-		34,541
Total finance costs – related parties	$	-	$	34,541

Time period		Amount ($)
Within 1 year		34,694
From 2 to 5 years		150,583
Thereafter		138,290

•	the merger of Advent with and into Merger Sub, a wholly owned subsidiary of AMCI, with Advent surviving the merger as a wholly owned subsidiary of AMCI;
•	the redemption of 1,606 shares of AMCI’s Class A common stock at a price of approximately $10.30 per share, for an aggregate of $16,536, in connection with the consummation of the Business Combination;
•	the issuance and sale of 6,500,000 shares of AMCI’s Class A common stock at a purchase price of $10.00 per share, for an aggregate of $65 million, in the PIPE pursuant to the Subscription Agreement; and
•	the issuance and sale of 400,000 Working Capital Warrants at a price of $1.00 per Warrant.

•	the accompanying notes to the unaudited pro forma condensed combined financial statements;
•	the historical audited financial statements of AMCI as of and for the year ended December 31, 2020 and the related notes, in each case, incorporated by reference into this Current Report on Form 8-K;
•	the historical audited consolidated financial statements of Advent as of and for the year ended December 31, 2020 and the related notes, in each case, incorporated by reference into this Current Report on Form 8-K; and
•	other information relating to AMCI and Advent contained in the Prospectus, including the merger agreement and the description of certain terms thereof set forth under “The Business Combination”.

Stockholder	%	No. shares
Advent	54.3	25,033,398
Public	19.6	9,059,530
Sponsor	5.4	2,474,009
AMCI’s executive management	1.1	485,000
Other AMCI holders	5.5	2,554,010
PIPE Investors	14.1	6,500,000
Total	100%	46,105,947

•	Advent’s existing stockholders have the greatest voting interest in the Combined Entity with 54.3% voting interest;
•	the largest individual minority stockholder of the Combined Entity is an existing stockholder of Advent;
•	Advent’s appointed directors represent five out of seven board seats for the Combined Entity’s board of directors;
•	Advent selects all senior management (executives) of the Combined Entity;
•	Advent’s senior management comprise the majority of the senior management of the Combined Entity; and
•	Advent operations are the only continuing operations of the Combined Entity.

	As of December 31, 2020				As of December 31, 2020
	AMCI (Historical)	Advent (Historical)	Pro Forma Adjustments		Pro-Forma Combined
ASSETS
Current assets:
Cash	$24,945	$515,734	$133,768,869	A	$134,309,548
Inventories	—	107,939	—		107,939
Accounts receivable, net	—	421,059	—		421,059
Due from related parties		67,781			67,781
Contract assets	—	85,930	—		85,930
Prepaid expenses	—	1,724	—		1,724
Other current assets	—	495,021	—		495,021
Prepaid income tax	203,613	—	—		203,613
Prepaid Expenses and other current assets	361,876	—	—		353,959
Total current assets	582.517	1,695,188	133,768,869		136,046,574
Cash and investments held in Trust Account	93,922,522	—	(93,340,005)	B	—
Property and equipment	—	198,737	—		198,737
Other assets	—	136	—		136
Total Assets	$93,922,522	$1,894,061	$40,428,864,		$136,245,447
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts Payable	357,356	—	(349,439)	C, F	—
Trade and other payables	—	881,394	(540,026)	E	341,368
Due to related parties	—	1,114,659	—		1,114,659
Accrued Expenses	25,000	—	(25,000)	F	—
Franchise tax payable	40,050	—	(40,050)	C	—
Income Tax payable	—	201,780			201,780
Promissory Note	2,365,649	—	(2,365,649)	C	—
Promissory Note- Related Party	400,000		(400,000)	R	—
Contract Liabilities	—	167,761	—		167,761
Other current liabilities	—	904,379	(208,245)	E.I	696,134
Deferred income from grants, current	—	158,819	—		158,819
Total current liabilities	3,180,138	3,428,792	(3,928,409)		2,680,521
Deferred underwriting fees	7,718,227	—	(7,718,227)	D	—
Provision for staff leave indemnities	—	33,676	—		33,676
Deferred income from grants, non -current		182,273	—		182,273
Other long term liabilities	—	42,793	—		42,793
Total liabilities	10,898,365	3,687,534	(11,646,636)		2,939,263
Commitments
Class A common stock subject to possible redemption	78,024,156	—	(78,024,156 )	K	—
Stockholders Equity
Class A common stock	150	—	4,460	L	4,610
Class B common stock	551	—	(551)	N	—
Common Stock (Advent)	—	3,037	(3,037)	O	—
Preferred stock series A (Advent)	—	844	(844)	O	—
Preferred stock series seed (Advent)	—	2,096	(2,096)	O	—
Additional paid-in capital	2,812,626	10,990,288	137,971,434	O	151,774,348
Accumulated other comprehensive income	—	111,779			111,779
Retained earnings	2,186,674		(2,186,674)	P	—
Accumulated Deficit (Advent)	—	(12,901,517)	(5,683,036)	Q	(18,584,553)
Total stockholders Equity	5,000,001	(1,793,473)	130,099,656		133,306,184
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$93,922,522	$1,894,061	$40,428,864		$136,245,447

	Year Ended December 31, 2020				Year Ended December 31, 2020
	AMCI (Historical)	Advent (Historical)	Pro Forma Adjustments		Pro Forma Combined
Revenue, net	$—	$882,652	$—		$882,652
Cost of revenues	—	(513,818)	—		(513,818)
Income from grants		206,828	—		206,828
Administrative and selling expenses	—	(3,536,889)	70,089	(CC), (EE)	(3,466,800)
Research and development	—	(102,538)	—		(102,538)
Operating Costs	(1,422,570)	—	489,561	(AA), (EE)	(933,009)
Franchise tax expense	(208,794)	—	—		(208,794)
Other operating expenses	—	(9,967)			(9,967)
Loss from operations	(1,631,364)	(3,073,732)	559,650		(4,145,446)
Other income – dividends and interest	836,541	—	(836,541)	(DD)	—
Finance costs	—	(5,542)	—		(5,542)
Foreign exchange differences, net	—	(26,072)	—		(26,072)

Other expenses		(15,696)			(15,696)
(Loss) Income before provision for income tax	(794,823)	(3,121,042)	(276,891)		(4,192,756
Provision for income tax	(199,030)	—	199,030	(FF)	—
Net (loss) income	$(993,853)	$(3,121,042)	$(77,861)		$(4,192,756)
Weighted average number of common shares outstanding, basic and diluted	6,807,313				46,105,947
Basic and diluted net loss per share	$(0.20)				$(0.09)

•	AMCI’s audited balance sheet as of December 31, 2020 and the related notes included in this prospectus included in the Company's Annual Report on Form 10-K; and
•	Advent’s audited consolidated balance sheet as of December 31, 2020 and the related notes included in this prospectus into this Current Report on Form 8-K.