Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 690

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 690
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| Volatility                                     |     |              | 66.2 | % |     |      | 73.7 | % |     |          | 76.1 | % |

5. Commitments and Contingencies Indemnification In the normal course of business, the Company enters into agreements that contain a variety of representations and provide for general indemnification. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future. To date, the Company has not paid any claims or been required to defend any action related to its indemnification obligations. As of December 31, 2023, December 31, 2024, and June 30, 2025, the Company did not have any material indemnification claims that were probable or reasonably possible. Contingencies Liabilities for loss contingencies arising from claims, assessments, litigation, fines, penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. There are no matters currently outstanding for which any liabilities have been accrued as of December 31, 2023, December 31, 2024, and June 30, 2025. The Company is not currently involved in any legal actions that could have a material effect on the Company’s financial position, results of operations, or liquidity. 6. Long-Term Investment Before the Restructuring, Plus PRC was a wholly-owned subsidiary of the Company. As a result of the Restructuring, PlusAI Corp became a subsidiary of Plus Automation, and Plus Automation no longer consolidates the financial results of the PRC-focused operations, which are now held by Plus PRC. After the Restructuring, the Company holds an aggregate of 476,635,210 redeemable series A-X preferred shares of Plus PRC, which represents an approximate 23.44% equity interest on an as converted basis and 7.11% voting power as of December 31, 2023, December 31, 2024, and June 30, 2025. The Company’s minority investment held in Plus PRC is not consolidated under the variable interest entity model as the Company is not determined to be the primary beneficiary. The Company does not account for its Plus PRC investment under the equity method as it does not have the ability to exercise significant influence after the Restructuring. Since the Company has no significant influence and its investment in Plus PRC does