Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 725

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 725
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 arrangements within the scope of ASC Topic 808, the Company first determines whether the collaborative arrangement is entirely or partially a contract with a customer or falls entirely within the scope of other GAAP. For NRE agreements with multiple deliverables, the Company would assess the units of account by applying the separation and initial measurement requirements of the applicable authoritative accounting literature. If there are no separation or initial measurement requirements in those other standards, the requirements in ASC Topic 606, are applied. For each unit of account identified, the Company determines the accounting treatment based on the relevant authoritative guidance that can be directly applied or reasonably analogized to, or makes an accounting policy election based on the nature if no reasonable analogy found.

The Company has concluded that for each NRE arrangement, there is one unit of account for participation in research and development programs. Participation reimbursements are recognized over time using a cost-to-cost input method (i.e., costs incurred to date relative to total estimated costs), which reflects the Company’s progress toward satisfying its obligation under the development activities. Activities performed for NRE arrangement are tracked and reflect progress made for each arrangement and are charged at consistent internal rates. Participation reimbursements recognized are recorded as a reduction to research and development expenses in the consolidated statements of operations and comprehensive loss.

The fees received from the collaboration arrangements are recognized based on costs incurred to date over the total estimated project costs and are recorded as an offset to research and development expenses in the condensed consolidated statements of operations and comprehensive loss. During the nine months ended September 30, 2024 and 2025, the Company recorded $10.7 million and $1.5 million as an offset to research and development costs related to all partner collaboration agreements, respectively.

4. Fair Value of Financial Instruments

The Company’s financial instruments include cash and cash equivalents, marketable securities, accounts and other receivables, accounts payable, the SAFE liabilities, the warrant liabilities, liability-classified share-based awards and other payables. Marketable securities, the SAFE liabilities, the warrant liabilities, and liability-classified share-based awards are measured and reported at fair value at the end of each reporting period. The carrying values of other financial instruments approximate their fair values due to their short-term nature.

<div align='center'>F-95</div>

The Company’s financial assets and liabilities that are measured at fair value on a recurring basis is as follows:

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