Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 448

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 448
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 magnitude or the extent to which they may negatively impact our business and our ability to complete an initial business combination.

Liquidity, Capital Resources and Going Concern

Until the consummation of the CCIX IPO, our only source of liquidity was an initial purchase of CCIX Class B Ordinary Shares by the Sponsor and loans from the Sponsor.

On May 6, 2024, we consummated the CCIX IPO of 28,750,000 CCIX public units, which includes the full exercise by the underwriters of their over-allotment option in the amount of 3,750,000 shares, at $10.00 per unit, generating gross proceeds of $287,500,000. Simultaneously with the closing of the CCIX IPO and pursuant to the private placement units purchase agreement, we consummated the sale of 725,000 CCIX private placement units to the Sponsor at a price of $10.00 per CCIX unit, generating gross proceeds of $7,250,000.

Following the CCIX IPO and the private placement that occurred simultaneously with the closing of the CCIX IPO, a total of $287,500,000 ($10.00 per unit) was placed in the trust account. We incurred transaction costs of $14,560,986 consisting of $5,750,000 of upfront discount to the underwriters, $10,062,500 of deferred underwriting fees, and $557,236 of other offering costs, offset by reimbursement from the underwriters of $1,808,750.

We intend to use substantially all of the funds held in the trust account, including any amounts representing interest earned on the trust account (less certain permitted withdrawals and deferred underwriting discounts and commissions), to complete our initial business combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our initial business combination, the remaining proceeds held in the trust account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.

We intend to use the funds held outside the trust account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, structure, negotiate and complete a business combination, and to pay for directors and officers liability insurance premiums.

In order to finance working capital deficit or to finance