Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 295

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 295
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 and 69% of the voting power of the outstanding PlusAI preferred stock (voting together as a single class and on an as-converted to PlusAI Class A common stock basis), were expected to enter into the Registration Rights Agreement with CCIX and the Sponsor pursuant to which, among other things, they would agree not to transfer their interests in the Post-Closing Company for 12 months after the Closing, subject to certain customary exceptions. Under certain conditions, shares of PlusAI common stock and PlusAI preferred stock shall be subject to early release from transfer restrictions.

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The PlusAI Board also considered the following uncertainties, risks and other potentially negative factors: • Risk that the Business Combination may not be Completed. The PlusAI Board considered the risk that the business combination might not be consummated in a timely manner, or at all, due to a lack of stockholder approval or failure to satisfy various conditions to closing. • Impact on Reputation and Business if the Business Combination is not Completed . The PlusAI Board considered the possibility that there may be an adverse effect on PlusAI’s reputation and business in the event the business combination is not completed. • Expenses and Challenges . The PlusAI Board considered the expenses to be incurred in connection with the business combination. • Restrictions on the Operation of PlusAI’s Business . The PlusAI Board considered the fact that, although PlusAI will continue to exercise, consistent with the terms and conditions of the Merger Agreement, control and supervision over its operations prior to the completion of the business combination, the Merger Agreement generally obligates PlusAI, subject to CCIX’s prior consent (which consent may not be unreasonably conditioned, withheld, delayed or denied), to conduct its business in the ordinary course of business consistent with past practice and in accordance with specified restrictions, which might delay or prevent PlusAI from undertaking certain business opportunities that might arise pending completion of the business combination. • Interests of PlusAI Executive Officers and Directors . The PlusAI Board considered the fact that certain executive officers and directors of PlusAI have interests in the business combination that may be different from, or in addition to, the interests of PlusAI stockholders generally, including the manner in which they would be affected by the business combination and the other matters disclosed in the sections entitled “ — Interests of Certain CCIX Persons in the Business Combination ” and “ — Interests of Certain PlusAI Persons in the Business Combination .” • Other Risks . The PlusAI Board considered various other risks associated