Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 153

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 153
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 doubt about our ability to continue as a going concern in relation to the foregoing. The notes to our unaudited condensed consolidated financial statements for the nine months ended September 30, 2025 also contain an explanatory paragraph that states certain conditions exist that raise substantial doubt about our ability to continue as a going concern in relation to the foregoing. If we are unable to continue as a going concern, we may be forced to liquidate our assets, and the values we receive for our assets in liquidation or dissolution could be significantly lower than the values reflected in our unaudited condensed consolidated financial statements.

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Our future capital requirements will depend on many factors, including our level of investment in research and development to develop and deploy our virtual driver software, the timing of commercial deployment of our virtual driver software and the rate of its adoption, and the net cash proceeds of the Business Combination. We expect our expenses and capital expenditures to increase in connection with our ongoing activities, including research and development to develop and deploy our virtual driver software and commercial deployment of our virtual driver software. In addition, upon the completion of the business combination, we expect to incur additional costs associated with operating as a public company. Certain costs are not reasonably estimable at this time, and we may require additional funding and our forecasts anticipate certain customer-sourced income that is not guaranteed.

If we are unable to raise sufficient capital when needed, including as a result of redemptions by Public Shareholders, our business, financial condition and results of operations may be adversely affected, and we may need to significantly modify our operational plans to continue as a going concern. The amount of cash on hand following the Business Combination is uncertain because we cannot predict the amount of redemptions by Public Shareholders in connection with the closing of the Business Combination. If the net cash proceeds from the Business Combination are less than expected, due to high levels of redemptions or otherwise, we may not have sufficient liquidity to meet our capital requirements and fund our operating plan. If we do not have sufficient cash to fund our operating plan, we may be required to seek additional funding from debt or equity offerings, reduce research and development initiatives, reduce our growth plans or liquidate our assets. In conjunction with such a liquidation, the values we receive for our assets in liquidation or dissolution may be significantly lower than the values reflected in our financial statements. Further, if we raise additional funds by issuing equity securities or securities convertible or exercisable into equity securities, our stockholders may experience