Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 688

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 688
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 remain unchanged for the remaining life of those assets. ASU 2025-05 is effective for fiscal years beginning after December 15, 2025, and interim reporting periods in those fiscal years. Entities that elect the practical expedient and, if applicable, make the accounting policy election are required to apply the amendments prospectively. The Company is currently evaluating the impact of adopting this new accounting guidance on its consolidated financial statements and related disclosures.

During the five months ended December 31, 2023, the year ended December 31, 2024, and the six months ended June 30, 2025, the Company has entered into various collaboration arrangements, including amendments, with certain strategic partners. Under the collaboration terms, the Company is typically responsible for adapting its autonomous

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

driving technology, integrating it with partner systems, testing, calibration, and supporting test operations for the autonomous driving product in specific geographies. Each party is responsible for its own costs and expenses incurred in connection with the collaboration arrangement, except that the Company is typically eligible to receive certain upfront or milestone-based payments during the specified collaboration term. The Company retains ownership of its proprietary intellectual property developed independently, while any ownership of new intellectual property developed under the collaboration arrangements must be explicitly defined in a separately executed definitive project agreement. 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 consolidated statements of operations and comprehensive loss. During the five months ended December 31, 2023, the year ended December 31, 2024, and the six months ended June 30, 2025, the Company recorded $5.6 million, $12.5 million and $0.7 million as an offset to research and development costs related to all partner collaboration agreements, respectively. As of December 31, 2023, December 31, 2024, and June 30, 2025, the Company held $1.2 million, zero, and zero from advanced payments under all partner collaboration agreements on the consolidated balance sheets, 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,