Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 284

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 284
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, IT, cybersecurity and data privacy diligence. In furtherance of that evaluation, on April 28, 2025, representatives of CCIX, PlusAI management, and the accounting firm held a videoconference call to initiate the financial, IT, cybersecurity and data privacy due diligence process. As part of its evaluation of the proposed business combination with PlusAI, CCIX engaged Ocean Tomo as its financial and technical advisor. CCIX and Ocean Tomo entered into an engagement letter, dated as of April 25, 2025, which also contemplated that Ocean Tomo would render a fairness opinion to CCIX with respect to the business combination. On April 26, 2025, Wilson Sonsini Goodrich & Rosati (“ Wilson Sonsini ”), legal counsel to PlusAI, delivered a draft Merger Agreement to Willkie. From April 26, 2025 through June 5, 2025, the parties and their representatives negotiated the Merger Agreement and related transaction documents. Significant areas of discussion and negotiation included: (1) the conditions to each party’s obligation to complete the business combination, (2) the calculation of the Exchange Ratio, (3) the treatment of PlusAI equity awards in the transaction, (4) the terms of the Earnout, (5) the provisions with respect to the filing the Form S-4 and each party’s obligation to obtain required shareholder approvals, (6) the calculation of each party’s transaction expenses and related caps and (7) each party’s representations, warranties and covenants in the Merger Agreement, including restrictions on the operation of PlusAI’s business between signing the Merger Agreement and the Closing and related exceptions. The parties also negotiated the Voting and Support Agreements to be executed by PlusAI stockholders and the amendments to the Sponsor Agreement to be effected in connection with the execution of the Merger Agreement. On April 28, 2025, representatives of CCIX and PlusAI held a videoconference call to discuss the parties’ review of the preliminary unit economics model. See “ Proposal No. 1 — The Business Combination Proposal — Unaudited Prospective Unit Economics Information ” for additional information about the Unit Economics.

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On May 1, 2025, Willkie delivered an initial legal due diligence request list to PlusAI. Beginning on May 2, 2025, PlusAI and its representatives delivered to Willkie responses from PlusAI to the initial diligence request list sent by Willkie. On