Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 489

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 489
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 the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary if we are unable to continue as a going concern due to the inability to obtain adequate financing in the future. Cash Flows For the Nine Months Ended September 30, 2024 and 2025 The following table summarizes our consolidated cash flows for the periods presented:

|                                                     | (unaudited, in thousands) | For the Nine Months Ended September 30, |    2024 |   |     |   |    2025 |   |
|:----------------------------------------------------|:--------------------------|:----------------------------------------|--------:|:--|:----|:--|--------:|:--|
| Net cash used in operating activities               |                           | $                                       | (34,855 | ) |     | $ | (51,438 | ) |
| Net cash provided by (used in) investing activities |                           |                                         |    (859 | ) |     |   |  17,091 |   |
| Net cash provided by financing activities           |                           |                                         |  13,967 |   |     |   |   2,277 |   |
| Net decrease in cash and cash equivalents           |                           | $                                       | (21,747 | ) |     | $ | (32,070 | ) |

Overview of PlusAI Cash Flows For the Nine Months Ended September 30, 2024 and 2025 To fund our continuing operations, we relied on $78.4 million and $49.8 million in cash and cash equivalents as of January 1, 2024 and 2025, respectively, as well as significant cash inflows from financing activities, primarily from the issuance of SAFEs during the nine months ended September 30, 2024 and 2025. Additionally, we had significant cash inflows from investing activities during the nine months ended September 30, 2025 related to the sale of the long-term investment in Plus PRC. Material Adjustments for Non-Cash Investing and Financing Activities During the nine months ended September 30, 2024, and 2025, we recorded accretion of redeemable convertible preferred stock to the redemption value of $18.8 million and $48.9 million, respectively. These non-cash adjustments are excluded from the cash inflows from financing activities since they represent a deemed distribution to preferred stockholders with a corresponding increase to temporary equity based on the applicable liquidation preferences of our redeem