Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 701

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 701
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OLIDATED FINANCIAL STATEMENTS</div>

Each share of Preferred Stock shall automatically be converted into a number of Class A common stock shares at the then-effective and applicable conversion price upon the earlier of (1) immediately prior to the closing of a Qualified Public Offering, including a direct listing or de-SPAC Transaction, as defined in the Company’s Amended and Restated Certification of Incorporation, or (2) the written consent of holders of a majority of the voting power of the then outstanding shares of Preferred Stock, and the holders of a majority of the voting power of the then outstanding shares of the Series B Preferred Stock and Series C Preferred Stock, voting as separate classes. In addition, each share of Series A-3-X, Series A-4-X and Series B-X Preferred Stock shall automatically be converted into one fully paid and nonassessable share of Series A-3, Series A-4 or Series B Preferred Stock, respectively upon the earlier of (1) the transfer of such shares other than an affiliate after the one year anniversary of the first issuance of shares in such series, or (2) upon a change of control without approval of the Board of Directors.

On January 27, 2021, the Company entered into a Master Purchase Agreement with Amazon Logistics, Inc. (“Amazon”) for the purchase of certain goods, software, or other items from the Company. Concurrent with the Master Purchase Agreement, the parties entered into a warrant agreement (“Amazon Warrant”) on June 19, 2021 (“Issuance Date”) to purchase 420.7 million shares at an exercise price of $0.46647 per share. The Amazon Warrant is exercisable into shares of the Company’s Series C-1 Preferred Stock prior to the closing of a de-SPAC Transaction and into Class A common stock after the completion of a Qualified IPO (the “Warrant Shares”). The vested portions of the Amazon Warrant are exercisable at any time at the option of Amazon prior to expiration of the warrant on June 19, 2029. The potential closing of the de-SPAC Transaction discussed in Note 1 does not qualify as a change of control event that will result in the accelerated vesting of the Amazon Warrant.

At the election of Amazon, any vested portion of the Amazon Warrant will be exercisable either on a cash basis by the payment of the applicable aggregate exercise price or on a net share basis under which Amazon is not obligated to the payment of the applicable aggregate exercise price and