Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 129

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 129
---
, as well as those described elsewhere in this “Risk Factors” section, our business, financial condition and results of operations could be adversely affected. Further, because we have limited historical financial data and operate in a rapidly evolving market, any predictions about our future revenue and expenses may not be as accurate as they would be if we had a longer operating history, both prior to and since the Restructuring, or operated in a more developed market. We have encountered in the past, and will encounter in the future, risks and uncertainties frequently experienced by growing companies with limited operating histories in rapidly changing industries. If our assumptions regarding these risks and uncertainties, which we use to plan and operate our business, are incorrect or change, or if we do not address these risks successfully, our results of operations could differ materially from our expectations and our business, financial condition, and results of operations could be adversely affected.

Our technology may be lesser performing or developing and commercializing and scaling our technology may take us longer to complete than we currently anticipate, which would adversely impact our business, financial condition, and results of operations.

Our virtual driver software is highly technical and complex, and successful commercial deployment of our technology will require that we meet very high standards for technology performance and system safety. If we are unable to develop and commercialize our technology in a sufficiently performant or timely manner, our ability to monetize our technology will be impaired. These risks are particularly relevant for factors such as our virtual driver software’s operational domain (i.e., the conditions under which our software is designed to operate), which includes variables such as traversable road networks, speeds, and weather patterns. It is possible that there may be additional limitations in our operating capabilities that are dependent upon a number of factors, including, for example, vehicle type (e.g., car, truck) and actor density (e.g., pedestrians, cyclists). If that is the case, we may be more restricted in our addressable market opportunities.

To date, the autonomous driving industry has generally taken longer to develop than many anticipated, and it may take us longer to complete our own technology development and commercialization than is currently projected. Successful deployment of autonomous driving technology for broad use cases will require further technology improvements including, for example, handling non-compliant or unexpected actor behavior and inclement weather conditions. Developing a system that adequately manages these challenges may take us longer than expected (or may not be achieved at all), which would increase our capital requirements for technology development, delay our timeline to commercialization, and otherwise harm our