Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 708

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 708
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 December 31, 
         2023 |    |     |    | For the Year 
        Ended 
 December 31, 
         2024 |    |     |     |  For the Six 
 Months Ended 
     June 30, 
         2025 |    |
|:------------------------------|:----|:---|-------------:|:---|:----|:---|-------------:|:---|:----|:----|-------------:|:---|
| Federal statutory rate        |     |    |         21.0 | %  |     |    |         21.0 | %  |     |     |         21.0 | %  |
| Stock-based compensation      |     |    |          8.0 | %  |     |    |         (1.0 | %) |     |     |         (0.1 | %) |
| Foreign operations            |     |    |        (17.0 | %) |     |    |         (3.3 | %) |     |     |          1.7 | %  |
| Tax credits                   |     |    |          2.8 | %  |     |    |          1.9 | %  |     |     |          1.1 | %  |
| Other non-deductible expenses |     | —% |              |    |     |    |         (0.1 | %) |     |     |         (0.1 | %) |
| Change in valuation allowance |     |    |        (14.8 | %) |     |    |        (18.5 | %) |     |     |        (23.7 | %) |
| Effective tax rate            |     | —% |              |    |     | —% |              |    |     |     |         (0.1 | %) |

<div align='center'>F-80

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred taxes are as follows:

| (in thousands)                                        
 Deferred tax assets:                                  |     | December 31, 
 2023         |         |   |     | 2024 |         |   |     | June