Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 477

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 477
---
 deployment in the United States and/or Europe. We anticipate that SuperDrive-enabled trucks will be capable of operating autonomously between distribution centers via both local and highway routes, with the potential to enhance vehicle utilization, operational safety, and overall transportation efficiency.

We are targeting the commercial launch of a scalable, factory-installed driverless trucking solution in 2027. In support of this objective, we are actively engaged in joint development and validation programs with our global OEM partners. We provide our SuperDrive virtual driver software to OEM partners, who integrate the technology directly

<div align='center'>302</div>

into factory-built trucks. As the autonomous trucks are utilized, fleet operators pay OEMs a fee-per-mile under a Driver-as-a-Service (“DaaS”) model. This fee replaces—and is expected to reduce—the cost fleet operators currently bear for human drivers. We expect that our OEM partners will be contractually obligated to share a fixed portion of the DaaS fee with PlusAI, aligning our revenue with customer adoption and truck utilization. Over the long-term, this creates a predictable and scalable revenue stream, similar to a software-as-a-service model. We believe this capital-light approach, through which we concentrate our efforts on software development and autonomy system integration while leveraging our partners’ capabilities in vehicle manufacturing, distribution, fleet sales and support, and related operational infrastructure, will enhance efficiency and reduce barriers to commercialization.

Significant Events and Transactions

Proposed Business Combination

On June 5, 2025, we entered into the Merger Agreement with CCIX. Pursuant to the Merger Agreement, and assuming a favorable vote of CCIX shareholders and PlusAI stockholders and that all other closing conditions are satisfied or waived, Merger Sub I, a newly formed subsidiary of CCIX, will merge with and into PlusAI, with PlusAI as the surviving corporation and a wholly owned subsidiary of CCIX, and immediately thereafter PlusAI will merge with and into Merger Sub II, with Merger Sub II as the surviving entity and as a wholly owned subsidiary of CCIX. Following the business combination, CCIX will be renamed “PlusAI Holdings, Inc”. PlusAI will be deemed the accounting predecessor and the Post-Closing Company will be the successor SEC registrant, which means that our financial statements for previous periods will be disclosed in the Post-Closing Company’s future periodic reports filed with the SEC.

The business combination is anticipated to be accounted for as a reverse recapitalization. Under this method of accounting, CCIX will be treated