Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 294

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 294
---
 strategic transactions with other partners and the possibility of, and benefits and risks associated with, continuing to operate PlusAI as an independent, stand-alone entity (including following a traditional initial public offering) and other merger prospects, that the proposed business combination represented a better opportunity for PlusAI to create value for PlusAI stockholders. • Terms of the Merger Agreement . The PlusAI Board considered the terms and conditions of the Merger Agreement, including but not limited to the nature and scope of the closing conditions and the likelihood of obtaining any necessary approvals. • Consideration Received by PlusAI Stockholders . The PlusAI Board considered the form and amount of consideration to be received by PlusAI stockholders in the proposed business combination under the terms and conditions of the Merger Agreement, including the right that the Eligible PlusAI Equityholders will have to receive the Earnout Shares. • Size of Post-Combination Company . The PlusAI Board considered the implied enterprise value of approximately $1,200,000,000 for PlusAI at the Closing, subject to increase to reflect net proceeds raised by the Company prior to Closing via a Permitted Equity Financing. • Access to Capital . The PlusAI Board considered the current economic, industry and market conditions affecting PlusAI, PlusAI’s projected financial results and cash flows, PlusAI’s prospects as a private entity and the needs of PlusAI to obtain substantial additional financing in the future and the cost of alternative means of raising capital, and it expected that the proposed business combination would be a more time- and cost-effective means to access capital than other options considered. The PlusAI Board also considered the fact that it believed that the business combination could (assuming minimal redemptions) result in PlusAI’s business model being fully funded up until such time as PlusAI was projected to be cash flow positive. • Voting and Support Agreements . The PlusAI Board considered that certain PlusAI stockholders, whose ownership interests collectively represent the outstanding shares of PlusAI common stock and PlusAI preferred stock (voting on an as-converted basis) sufficient to approve the business combination proposal on behalf of PlusAI, were expected to enter into the PlusAI Voting and Support Agreements with CCIX pursuant to which such PlusAI stockholders would agree to support the approval of the PlusAI business combination proposal. • Registration Rights Agreements . The PlusAI Board also considered that, in connection with the execution of the Merger Agreement, certain PlusAI stockholders, whose ownership interests collectively represent 94% of the outstanding PlusAI common stock