Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 631

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 631
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.S. Treasury Securities (Matured on 02/06/25) |     |       | 1 |     | $         | 296,120,431 |     | $           | 13,050 |     | $          | 296,133,481 |

<div align='center'>F-18</div>

The Public Warrants were valued using a Lattice methodology. The public warrants have been classified within shareholders’ (deficit) equity and will not require remeasurement after issuance. The Public Warrants are a Level 3 measurement. On May 6, 2024, a fair value of $0.20per Public Warrant was determined.The following table presents the quantitative information regarding market assumptions used in the valuation of the Public Warrants:

|                               |     | May 6, 2024 |      |   |
|:------------------------------|:----|:------------|-----:|:--|
| Market price of public shares |     | $           | 9.76 |   |
| Term (years)                  |     |             | 6.61 |   |
| Risk-free rate                |     |             | 4.43 | % |
| Volatility                    |     |             |  5.0 | % |
| Market pricing adjustment     |     |             | 15.0 | % |

Transfers to/from Levels 1, 2 and 3 are recognized at the end of the reporting period in which a change in valuation technique or methodology occurs. There werenotransfers for the year ended December 31, 2024.

Note 9 — Segment Reporting

ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by the CODM, or group, in deciding how to allocate resources and assess performance.

The Company’sCODMhas been identified as the Chief Financial Officer, who reviews the assets, operating results, and financial metrics for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that there is onlyonereportable segment.

The CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported on the statements