Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 131

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 131
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 before we do, develop superior technology, or are perceived to have better or safer technology, our business prospects and financial performance would be adversely affected.

The market for self-driving technology is intensely competitive and subject to rapid technological change. Our future success will depend on our ability to develop and commercialize our virtual driver software in a sufficiently timely manner in order to maintain competitiveness. Several companies, including, but not limited to, Torc Robotics, Aurora, and Kodiak Robotics are investing heavily in building self-driving technology for similar use cases to ours. If our competitors, including those previously mentioned, broadly commercialize their technology before we do, develop superior technology, or are perceived to have better or safer technology, they may capture market opportunities and establish relationships with customers and partners that might otherwise have been available to us.

Commercialization of autonomous trucking technology is currently generally limited to pilot deployments, which we and other competitors are currently performing. Competitors may initiate similar deployments in various different use cases and/or geographies earlier than we will or may perform better than we do in such deployments. Several of these competitors have substantially greater financial, marketing, research and development, and other resources than we do. In the event that one or more of these competitors broadly commercializes their technology before we do, our business prospects and financial performance would be adversely impacted.

We expect to rely on a limited number of customers for a significant portion of our future revenue. The loss of, or a reduction in our commercial relationship with, any of those customers may adversely affect our business, financial condition, and results of operations.

We expect to rely on a limited number of customers for substantially all of our future revenue. To date, we have limited revenue from the deployment of our technology and the substantial majority of our revenue has been derived from a limited number of pilot projects and other nonrecurring engineering fees. For example, during each of the periods presented in this proxy statement/prospectus, we had one contract with a revenue-generating customer. Particularly as we approach commercial launch of SuperDrive, the composition of our significant customers may vary. We believe our business, financial condition, and results of operations for the foreseeable future will continue to depend on the deployment of our software through a relatively limited number of OEMs. OEMs may decide not to distribute, or their customers may decide not to purchase, autonomous vehicles utilizing our technology or may take other actions that affect us for reasons that we cannot anticipate or control. Those reasons could relate to the OEM’s or their customer’s financial condition, changes in the