Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 673

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 673
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 equivalents are recorded at cost, which approximates fair value. The Company maintains its cash and cash equivalents at various financial institutions, the balances of which, at times, may exceed federally insured limits.

Short-term marketable securities consist of equity securities of Luminar Technologies, Inc. (“Luminar”) and U.S. Treasury bills. The Luminar equity securities were restricted as the Company was contractually required to hold them for six months after registration with the SEC before having the ability to sell. The expiration of the restriction was in September 2023. The Company’s marketable equity securities are carried at fair value with changes in fair value recognized as unrealized gains and losses included in other income (expense), net in the consolidated statements of operations and comprehensive loss.

<div align='center'>F-51

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

The classification of marketable securities is determined at the time of purchase and reevaluated as of each balance sheet date. Marketable debt securities accounted for and classified as available-for-sale are carried at fair value with changes in fair value recognized as unrealized gains and losses included in accumulated other comprehensive loss as a component of stockholders’ deficit until realized. Realized gains and losses are calculated using the specific identification method and recorded in other income (expense), net in the consolidated statements of operations and comprehensive loss. Marketable debt securities with stated maturities less than 12 months are classified as short-term investments due to the Company’s ability to use these securities to support current operations.

For available-for-sale debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or if it is more likely than not that it will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through income or loss. For available-for-sale debt securities that do not meet the above criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, the Company considers the severity of the impairment, any changes in interest rates, market conditions, changes to the underlying credit ratings, and forecasted recovery, among other factors. The credit-related portion of unrealized losses and any subsequent improvements are recorded in interest income through an allowance account. Any impairment that has not been recorded through an allowance for credit losses is included in other comprehensive income (loss) on the