Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 493

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 493
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 accretion of redeemable convertible preferred stock to redemption value of $15.2 million, $29.8 million, and $32.6 million, respectively. These amounts are excluded from the cash inflows from financing activities.

During the five months ended December 31, 2023, we executed a SAFE arrangement with an investor, pursuant to which we received certain marketable securities with the fair value of $10.0 million in the form of certain marketable securities. Additionally, under a collaboration agreement, we received marketable securities with a fair value of $2.0 million.

During the six months ended June 30, 2025, we recognized $4.1 million in deferred transaction costs, of which $4.0 million remained unpaid and were included in accounts payable and accrued and other liabilities. Since we are anticipated to be the acquirer of CCIX for accounting purposes, the direct and incremental costs associated with this transaction are deferred and will be recorded against the proceeds from reverse recapitalization once the Merger is consummated. Payments of these deferred transaction costs are reflected as cash outflows from financing activities in the respective periods.

Net Cash Flows from Operating Activities

Net cash used in operating activities for the five months ended December 31, 2023 was $16.6 million. This amount consisted of our net loss of $15.3 million, adjusted for net non-cash income of $1.5 million, partially offset by a change in net operating assets and liabilities of $0.2 million. Our net non-cash income primarily consisted of a $5.0 million gain from a change in fair value of warrant liabilities, partially offset by $1.0 million for depreciation and amortization, $0.9 million for stock-based compensation, $0.8 million for non-cash lease expense, and a $0.7 million unrealized loss on short-term marketable equity securities. The net change in operating assets and liabilities was primarily due to increases in our liabilities, including $1.3 million primarily from advance payments we receive under our collaboration agreements, $1.1 million from accrued and other liabilities, $1.0 million from accrued compensation and benefits, and $0.9 million from accounts payable, which reflects developments in our operations and key business initiatives. These changes were partially offset by an increase of $3.3 million in accounts and other receivables and a decrease of $0.8 million in operating lease liabilities.

Net cash used in operating activities for