Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 490

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 490
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able convertible preferred stock. During the nine months ended September 30, 2024, no deferred offering costs were capitalized. During the nine months ended September 30, 2025, we recognized $6.4 million in deferred transaction costs, of which $5.9 million remained unpaid and were included in accounts payable and accrued and other liabilities. Since we are expected to be the acquirer of CCIX for accounting purposes, the direct and incremental costs associated with this transaction are deferred and will be recorded against the proceeds from the reverse recapitalization upon consummation of the Merger. Payments of these deferred transaction costs are reflected as cash outflows from financing activities in the respective periods. Net Cash Flows from Operating Activities Net cash used in operating activities for the nine months ended September 30, 2024 was $34.9 million. This amount consisted of our net loss of $41.9 million, adjusted for a change in net operating assets and liabilities of $3.4 million, partially offset by non-cash charges of $10.4 million. Our non-cash charges primarily consisted of a $2.8 million for stock-based compensation, $1.7 million for depreciation and amortization, $1.6 million for non-cash lease

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expense, $1.3 million for impairment of long-term investment, $1.3 million unrealized loss on short-term marketable securities, $0.9 million loss from a change in fair value of warrant liabilities, and $0.8 million loss from a change in fair value of simple agreements for future equity. The net change in operating assets and liabilities was primarily due to a $1.7 million decrease in operating lease liabilities, $1.0 million increase in prepaid expenses and other current assets, $1.0 million decrease in advance payments, $1.0 million decrease in accrued and other liabilities, $0.4 million decrease in accrued compensation and benefits, partially offset by a $0.7 million increase in accounts payable, $0.6 million decrease in accounts and other receivables, and a $0.4 million increase in discounted options liability. Net cash used in operating activities for the nine months ended September 30, 2025 was $51.4 million. This amount consisted of our net loss of $77.7 million, partially offset by non-cash charges of $25.0 million and a change in net operating assets and liabilities of $1.3 million