Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 726

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 726
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 |     |          |  5,801 |     |      |  5,897 |
| Fair value as of September 30, 2025 |     | $        | 19,043 |     | $    | 35,868 |

The following table sets forth a summary of the changes in the fair value of the Company’s share-based awards liabilities classified as Level 3 financial instruments and included within noncurrent liabilities in the unaudited condensed consolidated balance sheets:

| (in thousands)                      |     |   |      |   |
|:------------------------------------|:----|:--|-----:|:--|
| Liability as of December 31, 2024   |     | $ |  451 |   |
| Change in fair value                |     |   |  425 |   |
| Settlement in equity                |     |   | (667 | ) |
| Foreign currency remeasurement loss |     |   |   13 |   |
| Liability as of September 30, 2025  |     | $ |  222 |   |

Treasury Bills U.S. Treasury bills are classified as cash equivalents if the maturities at the date of purchase are three months or less. If the maturities of U.S. Treasury bills are greater than three months and less than 12 months at the date of purchase, they are classified short term investments. The Company obtains pricing information from its investment

<div align='center'>F-96</div>

manager and generally determines the fair value of available-for-sale securities using standard observable inputs, including reported trades, broker and dealer quotes, and bids and offers. All such inputs are considered as Level 1 in the fair value hierarchy. Short-Term Marketable Securities As of December 31, 2024 and September 30, 2025, the fair value of the Company’s holdings in shares of Luminar’s marketable equity securities are based upon quoted market prices and considered a Level 1 asset in the fair value hierarchy. Warrant Liabilities The Company estimated the fair value of warrant liabilities using a combination of the binomial lattice model and a waterfall proceeds analysis based on estimated probabilities assigned to different exit scenarios, including an initial public offering or other settlement alternatives, as these events became known or knowable as of the valuation date. The probabilities of the Company becoming a public entity used to determine the fair value of warrant liabilities were 50% and 90% as of December 31,