Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 728

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 728
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 discount rate for conversion of the SAFE is equal to 90% prior to completion of a SPAC Transaction and 85% thereafter, representing a 10% discount to the implied price per share of the Company’s common stock. 9. Leases The Company has entered into non-cancellable operating leases primarily for office and warehouse spaces, which have initial lease terms varying from three to five years. Leases require monthly lease payments that may be subject to annual increases throughout the lease term. Certain leases include renewal options to extend the lease term, which have not been included in the computations of the present value of the lease payments at the lease commencement date, as the Company is not reasonably certain to renew. Lease expense is comprised of the following:

|                       | (in thousands) | For the Nine Months Ended September 30, |  2024 |     |     |  2025 |
|:----------------------|:---------------|----------------------------------------:|------:|:----|----:|------:|
| Operating lease cost  |                |                                       $ | 1,697 |     |   $ | 1,672 |
| Short-term lease cost |                |                                     155 |       |     | 249 |       |
| Variable lease cost   |                |                                     609 |       |     | 725 |       |
| Total lease expense   |                |                                       $ | 2,461 |     |   $ | 2,646 |

<div align='center'>F-99</div>

Cash paid for amounts included in the measurement of operating lease liabilities was $1.8 million for each of the nine months ended September 30, 2024 and 2025. These amounts were included in the net cash used in operating activities in the Company’s unaudited condensed consolidated statements of cash flows. The inputs used to determine the carrying values of the operating lease liabilities were as follows:

|                                                                      |     | December 31, |      |   |     | September 30, |      |   |
|                                                                      |     |         2024 |      |   |     |          2025 |      |   |
| Weighted-average remaining lease term of operating leases (in years) |     |         1.33 |      |   |     |          0.79 |      |   |
| Weighted-average discount rate of operating leases                   |     |              | 4.26 | % |     |               | 4.07 | % |