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EX-10.23

Kensington Capital Acquisition Corp. VI

February1,2026

RaffiFreeman

LetterofEmploymentviaElectronic mail to[***]

VIAELECTRONICMAILto

Re:OfferofEmployment

DearRaffi:

OnbehalfofNthCycle,Inc.(the“Company”)IampleasedtoofferyouemploymentinthepositionofChief FinancialOfficer,subjecttothetermsandconditionsbelow.

Thisletter outlines the terms of your employmentrelationship withtheCompany.Inaddition, andas an express materialcondition ofemployment, youmustreview, sign, and returntome the attachedProprietaryRights,Non-Disclosure, Developments, and Non-Solicitation Agreement (the “Proprietary Rights Agreement”).The Proprietary Rights Agreement contains very important terms and is a critical part of this offer of employment.

In this position, you will report to Dr. Megan O’Connor, CEOand Co-Founder.This position is a full-time regular position, andyour anticipatedstartdatewillbeFeb1st,2026(the“StartDate”).Your principal placeofwork being in Burlington, MA or such other location as the Company may direct based on need or business requirements.

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EX-10.23·S-4/A·CIK 2102713·ACC 0001193125-26-418129·Filed Oct 08, 2026, 18:06 ET

EX-10.26

Kensington Capital Acquisition Corp. VI

Updated as of December 17, 2021

2020 Stock Incentive Plan

of

Nth Cycle, Inc.


Table of Contents

Page

1. Purpose 1
2. Eligibility 1
3. Administration and Delegation 1
(a) Administration by the Board 1
(b) Appointment of Committees 1
4. Stock Available for Awards 2
(a) Number of Shares 2
(b) Substitute Awards 2

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EX-10.26·S-4/A·CIK 2102713·ACC 0001193125-26-418129·Filed Oct 08, 2026, 18:06 ET

EX-10.17

Kensington Capital Acquisition Corp. VI

Execution Version

SECOND AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT

THISSECONDAMENDEDANDRESTATEDINVESTORS’RIGHTS AGREEMENT

(this “Agreement”), is made as of April 5, 2023, by and among Nth Cycle, Inc. a Delaware corporation(the“Company”),eachholderoftheSeriesSeedPreferredStock,parvalue$0.0001 per share of the Company, listed on Schedule Ahereto (each, a “Series Seed Investor” and, together, the “Series Seed Investors”), each holder of the Series A Preferred Stock, par value $0.0001 per share of the Company, listed on Schedule Ahereto (each, a “Series A Investor” and,together,the“SeriesAInvestors”),eachholderoftheSeriesBPreferredStock,parvalue $0.0001 per share of the Company, listed on Schedule Ahereto (each, a “Series B Investor” and, together, the “Series B Investors”) and with each Series Seed Investor and Series A Investor, an “Investor” and, together, the “Investors”), each of the stockholders listed on ScheduleBhereto,eachofwhomisreferredtohereinasa“KeyHolder”,andanyAdditional Purchaser (as defined in the Purchase Agreement) that becomes a party to this Agreement in ac

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EX-10.17·S-4/A·CIK 2102713·ACC 0001193125-26-418129·Filed Oct 08, 2026, 18:06 ET

EX-10.20(D)

Kensington Capital Acquisition Corp. VI

Exhibit 10.20(d)

NTHCYCLE,INC.

OMNIBUSAMENDMENTTONOTEANDWARRANTPURCHASEAGREEMENTAND SUBORDINATED CONVERTIBLE PROMISSORY NOTES

This Omnibus Amendment to Note and Warrant Purchase Agreement and Subordinated ConvertiblePromissoryNotes(this“Amendment”),isenteredintoasofJuly7,2026(the“EffectiveDate”), by and among Nth Cycle, Inc., a Delaware corporation (the “Company”), and the other partiessetforthonthesignaturepageshereto,comprisingtheRequiredPurchasers,andamendsand modifies each of(i)theNoteandWarrantPurchase Agreement,datedasofJune 27,2025,byand amongtheCompanyandtheindividualsand entities who became parties thereto (the “Purchasers”) (asamendedtodate,the“PurchaseAgreement”),and(ii)allSubordinatedConvertiblePromissory Notes issued under the Purchase Agreement as of the Effective Date (as amended to date, the “Notes”). All capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Purchase Agreement.

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EX-10.20(D)·S-4/A·CIK 2102713·ACC 0001193125-26-418129·Filed Oct 08, 2026, 18:06 ET

EX-10.19

Kensington Capital Acquisition Corp. VI

LOAN AND SECURITY AGREEMENT

dated as of May 2, 2024

among

NTH CYCLE, INC., and

NTH CYCLE HOLDINGS I, LLC

as Borrower

and

HSBC VENTURES USA INC.,

as Bank


LOAN AND SECURITY AGREEMENT (this “Agreement”) is dated as of May 2, 2024 (the “Effective Date”) by and among (a) (i) NTH CYCLE, INC.,a Delaware corporation, and (ii) NTH CYCLE HOLDINGS I, LLC, a Delaware limited liability company (individually and collectively, jointly and severally, “Borrower”) and (b) HSBC VENTURES USA INC.(“Bank”), and provides the terms on which Bank shall lend to Borrower and Borrower shall repay Bank. The parties agree as follows:

Section 1 Definitions.

1.1

Definitions. As used in this Agreement, the following capitalized terms have the following meanings:

“Account” is any “account” as defined in the Code with such additions to such term as may hereafter be made, and includes, without limitation, all accounts receivable and other sums owing to any Loan Party.

“Account Debtor” is any “account debtor” as defined in the Code with such additions to such term as may hereafter be made.

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EX-10.19·S-4/A·CIK 2102713·ACC 0001193125-26-418129·Filed Oct 08, 2026, 18:06 ET

EX-10.27(A)

Kensington Capital Acquisition Corp. VI

Exhibit 10.27(a)

STANDARD FORM

INCENTIVESTOCKOPTION

Grantedby

Nth Cycle, Inc.(the “Company”)

Underthe2024StockIncentivePlan

This Option is and shall be subject in every respect to the provisions of the Company’s 2024 Stock Incentive Plan, as amended from time to time (the “Plan”), which is incorporated herein by reference and made a part hereof.The holder of this Option (the “Holder”) hereby accepts this Option subject to all the terms and provisions of the Plan and agrees that (a) in the eventofanyconflictbetweenthetermshereofandthoseofthePlan,thelattershallprevail,and (b) all decisions under and interpretations of the Plan by the Board or the Committee shall be final, binding and conclusive upon the Holder and his or her heirs and legal representatives.

1.

Nameof Holder:[As providedin Carta]

2.

DateofGrant:[Asprovidedin Carta]

3.

VestingStartDate:[As providedinCarta]

4.

Maximumnumberofsharesfor

whichthisOptionisexercisable:[Asprovidedin Carta]

5.

Exercise(purchase)pricepershare:[AsprovidedinCarta]

6.

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EX-10.27(A)·S-4/A·CIK 2102713·ACC 0001193125-26-418129·Filed Oct 08, 2026, 18:06 ET

EX-10.24

Kensington Capital Acquisition Corp. VI

Nth Cycle, Inc.

Restricted Stock Agreement

This Restricted Stock Agreement (the “Agreement”) is made this 14thday of August, 2020, between Nth Cycle, Inc., a Delaware corporation (the “Company”), and Megan Patricia O’Connor (the “Stockholder”).

Recitals

WHEREAS, the Stockholder was a member of Nth Cycle, LLC, a Connecticut limited liability company, which converted from a limited liability company into the Company (the “Conversion”) pursuant to a Plan of Conversion, dated August 1, 2020 (the “Plan of Conversion”) and the Certificate of Conversion filed with the Secretary of State of the State of Delaware (the “Delaware Certificate of Conversion”, and together with the Plan of Conversion, the “Conversion Documents”);

WHEREAS, pursuant to the Conversion Documents, subject to the execution of this Agreement, the Stockholder shall receive Three Million Two Hundred Fifty Thousand (3,250,000) shares (the “Shares”) of the Company’s Common Stock, $0.0001 par value per share (the “Common Stock”); and

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EX-10.24·S-4/A·CIK 2102713·ACC 0001193125-26-418129·Filed Oct 08, 2026, 18:06 ET

EX-10.22(C)

Kensington Capital Acquisition Corp. VI

Exhibit 10.22(c)

THE SECURITIES REPRESENTED HEREBY AND ANY SECURITIES ISSUABLE UPON CONVERSION HEREOF HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR REGISTERED OR QUALIFIEDUNDERTHESECURITIESOR“BLUESKY”LAWSOFANYJURISDICTION. SUCH SECURITIES AND ANY SECURITIES ISSUABLE UPON CONVERSION HEREOF MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS THE REGISTRATION PROVISIONS OF SAID ACT AND THE REGISTRATION, QUALIFICATIONANDFILINGREQUIREMENTSOFALLAPPLICABLEJURISDICTIONS HAVE BEEN COMPLIED WITH OR UNLESS THE COMPANY HAS RECEIVED AN OPINION OF LEGAL COUNSEL SATISFACTORY TO THE COMPANY, IN FORM AND SUBSTANCE SATISFACTORY TO THE COMPANY, THAT THE PROPOSED TRANSACTION WILL BE EXEMPT FROM REGISTRATION, QUALIFICATION AND FILING IN ALL SUCH JURISDICTIONS.

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EX-10.22(C)·S-4/A·CIK 2102713·ACC 0001193125-26-418129·Filed Oct 08, 2026, 18:06 ET

EX-10.20(A)

Kensington Capital Acquisition Corp. VI

Exhibit 10.20(a)

NTH CYCLE, INC.

AMENDMENT TO NOTE AND WARRANT PURCHASE AGREEMENT

This Amendment to the Note and Warrant Purchase Agreement dated as of July 09, 2025 (this “Amendment”), is made by and among Nth Cycle, Inc., a Delaware corporation (the “Company”), and the undersigned holders of subordinated convertible promissory notes (the “Notes”)soldpursuanttothatcertainNoteandWarrantPurchaseAgreementdatedasofJune27, 2025, by and among the Company and the Purchasers named therein (the “Purchase Agreement”).CapitalizedtermsusedbutnototherwisedefinedinthisAmendmentshallhavethe meanings given to them in the Purchase Agreement.

WHEREAS,pursuanttoSection8.7ofthePurchaseAgreement,anytermofthePurchase Agreementmaybeamended,modified,orterminatedwiththewrittenconsentoftheholdersofa majorityofthethen-outstandingaggregateprincipalamountoftheNotes(suchmajoritythe“Note Approval Amount”);

WHEREAS,thepartiesdesiretoamendthePurchaseAgreementtoextendthetimeperiod during which the Company may issue a Warrant to a Purchaser who purchases a Note under the Purchase Agreement; and

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EX-10.20(A)·S-4/A·CIK 2102713·ACC 0001193125-26-418129·Filed Oct 08, 2026, 18:06 ET

EX-10.20(B)

Kensington Capital Acquisition Corp. VI

Exhibit 10.20(b)

NTHCYCLE, INC.

AMENDMENTNO.2TONOTEANDWARRANT PURCHASEAGREEMENT

ThisAmendmentNo.2totheNoteandWarrantPurchaseAgreementdatedasof August 31, 2025 (this “Amendment”), is made by and among Nth Cycle, Inc., a Delaware corporation(the“Company”),andtheundersignedholdersofsubordinatedconvertiblepromissory notes (the “Notes”) sold pursuant to that certain Note and Warrant Purchase Agreement dated as of June 27, 2025, by and among the Company and the Purchasers named therein, as amended by that certain Amendment to Note and Warrant Purchase Agreement, dated July 9, 2025 (as amended, the “Purchase Agreement”). Capitalized terms used but not otherwise defined in this Amendment shall have the meanings given to them in the Purchase Agreement.

WHEREAS,pursuanttoSection8.7ofthePurchaseAgreement,anytermofthePurchase Agreement maybe amended, modified, orterminated with thewrittenconsent oftheholders of a majorityofthethen-outstandingaggregateprincipalamountoftheNotes(suchmajoritythe“Note Approval Amount”);

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EX-10.20(B)·S-4/A·CIK 2102713·ACC 0001193125-26-418129·Filed Oct 08, 2026, 18:06 ET

EX-10.18

Kensington Capital Acquisition Corp. VI

ExecutionVersion

SECONDAMENDEDANDRESTATEDVOTINGAGREEMENT

THISSECONDAMENDEDANDRESTATEDVOTING AGREEMENT(this “Agreement”), is made and entered into as of April 5, 2023, by and among Nth Cycle, Inc., a Delaware corporation (the “Company”), each holder of the Series Seed Preferred Stock, par value $0.0001 per share of the Company (“Series Seed Preferred Stock”), each holder of the Series A Preferred Stock, par value $0.0001 per share of the Company (“Series A Preferred Stock”), each holder of the Series B Preferred Stock, par value $0.0001 per share of the Company (“Series B Preferred Stock” referred to herein collectively with the Series Seed Preferred Stock and Series A Preferred Stock, as the “Preferred Stock”), listed on Schedule A(togetherwithanysubsequentinvestors,ortransferees,whobecomepartiesheretoas“Investors” pursuant to Subsections 7.1(a)or 7.2below, the “Investors”), and those certain stockholders of the Company and holders of options to acquire shares of the capital stock of the Company listed on Schedule B(together with any subsequent stockholders or option holders, or an

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EX-10.18·S-4/A·CIK 2102713·ACC 0001193125-26-418129·Filed Oct 08, 2026, 18:06 ET

EX-10.25

Kensington Capital Acquisition Corp. VI

STOCK RESTRICTION AGREEMENT

THIS STOCK RESTRICTION AGREEMENT (this “Agreement”) is made as of [_______], 2026 (the “Effective Date”), by and between Nth Cycle, Inc., a Delaware corporation (the “Company”), and [___________] (the “Stockholder”).

For valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

1. Purchase of Shares.

(a) The Stockholder, pursuant to the exercise of an option (the “Option”) granted by the Company under the Nth Cycle, Inc. 2024 Stock Incentive Plan (as amended from time to time, the “Plan”), has purchased on even date herewith, subject to the terms and conditions set forth in this Agreement, [______] shares of common stock of the Company, par value $0.0001 per share (the “Common Stock”), at a purchase price per share of $[____] (the “Shares”). The aggregate purchase price for the Shares shall be paid by the Stockholder. Upon receipt of payment by the Company for the Shares, the Company shall issue to the Stockholder one or more certificates (which may be in

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EX-10.25·S-4/A·CIK 2102713·ACC 0001193125-26-418129·Filed Oct 08, 2026, 18:06 ET