Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 564

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 564
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 be issued to the warrantholder.

Private Placement Warrants

The CCIX private placement warrants are non-redeemable. The CCIX private placement warrants may also be exercised on a “cashless basis,” but in no event will we be required to net cash settle any CCIX private placement warrant. The CCIX private placement warrants will not expire except upon liquidation. Otherwise, the CCIX private placement warrants have terms and provisions that are identical to those of the CCIX public warrants, including as to exercise price, exercisability and exercise period.

If holders of the CCIX private placement warrants elect to exercise them on a “cashless basis,” they would pay the exercise price by surrendering the CCIX private placement warrants in exchange for a number of shares of CCIX Class A Common Stock equal to the quotient obtained by dividing (1) the product of (a) the number of shares of CCIX Class A Common Stock underlying the CCIX private placement warrants, and (b) the excess of the “ten-day average closing price” (as defined below), as of the date prior to the date on which notice of exercise is sent or given to the warrant agent less the warrant price by (2) such ten-day average closing price. The “10-day average closing price” shall mean, as of any date, the average last reported sale price of the CCIX Class A Common Stock as reported during the 10 trading day period ending on the trading day prior to such date. If the holders of CCIX private placement warrants are affiliated with us, their ability to sell our securities in the open market will be significantly limited. We have policies in place that prohibit insiders from selling our securities except during specific periods of time. Even during such periods of time when insiders are permitted to sell our securities, an insider cannot trade in our securities if he or she is in possession of material non-public information.

Accordingly, unlike public shareholders who could sell CCIX Class A Common Stock issuable upon exercise of the CCIX public warrants freely in the open market to fund their cash exercise price, the insiders could be significantly restricted from doing so. As a result, we believe that allowing the holders to exercise such warrants on a “cashless basis” is appropriate.

Neither the CCIX private placement warrants nor the CCIX public warrants contain any provisions that are dependent upon the characteristics of the holder of the warrant.

Registration Rights

Effective upon the Closing of the Merger, that certain Registration Rights Agreement of CCIX, dated May 1,