Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 378

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 378
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 holders of Post-Closing Company preferred stock, the Proposed Certificate of Incorporation and the Proposed Bylaws permit the removal of a director only for cause and only by the affirmative vote of the holders of a majority of the total voting power of all then issued and outstanding shares of PlusAI capital stock entitled to vote in the election of directors, voting as a single class. The CCIX Board believes that such a standard will (1) increase board continuity and the likelihood that experienced board members with familiarity of PlusAI’s business operations would serve on the board at any given time and (2) make it more difficult for a potential acquirer or other person, group or entity to gain control of the PlusAI Board.

Advisory organizational documents proposal 4D - Action by Written Consent of Stockholders

Under the Proposed Certificate of Incorporation and Proposed Bylaws, PlusAI’s stockholders will have the ability to propose items of business and nominations of persons for election to the PlusAI Board (subject to the restrictions set forth therein) at duly convened stockholder meetings. The Proposed Certificate of Incorporation and the Proposed Bylaws require that any action taken by the stockholders be effected at an annual or special meeting of the stockholders and prohibit stockholder action by written consent in lieu of a meeting.

The CCIX Board believes that eliminating the right of stockholders to act by written consent is appropriate to limit the circumstances under which stockholders can act on their own initiative to, among other things, alter or amend the Proposed Bylaws outside of a duly called special or annual meeting of the stockholders of PlusAI.

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The elimination of the stockholders’ ability to act by written consent may have certain anti-takeover effects by forcing a potential acquirer to take control of the PlusAI Board only at duly called special or annual meetings. Inclusion of these provisions in the Proposed Certificate of Incorporation and the Proposed Bylaws might also increase the likelihood that a potential acquirer would negotiate the terms of any proposed transaction with the PlusAI Board and help protect stockholders from the use of abusive and coercive takeover tactics.

Advisory organizational documents proposal 4E - Adoption of Supermajority Vote Requirement to Amend the Proposed Certificate of Incorporation and the Proposed Bylaws

CCIX’s current articles of association provides that amendments may be made by a special resolution, being the affirmative vote of holders of at least two-thirds of the CCIX Ordinary Shares represented at the extraordinary general meeting in person or by proxy and entitled to vote