Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 381

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 381
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 of common stock outstanding before the issuance of the stock or securities.

Under Nasdaq Listing Rule 5635(b), shareholder approval is required prior to the issuance of securities when the issuance or potential issuance will result in a “change of control” of the issuer. Although Nasdaq has not adopted any rule on what constitutes a “change of control” for purposes of Rule 5635(b), Nasdaq has previously indicated that the acquisition of, or right to acquire, by a single investor or affiliated investor group, as little as 20% of the common stock (or securities convertible into or exercisable for common stock) or voting power of an issuer could constitute a change of control.

Under Nasdaq Listing Rule 5635(c), shareholder approval is required prior to the issuance of securities when a plan or other equity compensation arrangement is established or materially amended.

Under Nasdaq Listing Rule 5635(d), shareholder approval is required for a transaction other than a public offering involving the sale, issuance or potential issuance by an issuer of common stock (or securities convertible into or exercisable for common stock) at a price that is less than the greater of book or market value of the stock if the number of shares of common stock to be issued is or may be equal to 20% or more of the common stock, or 20% or more of the voting power, outstanding before the issuance.

Upon the consummation of the business combination and the Domestication, the Post-Closing Company expects to issue up to an estimated shares of Post-Closing Company Class A common stock, including (1) shares to be issued to the existing securityholders of PlusAI at the Closing and (2) following the Closing, shares to be issued upon (a) the exercise of PlusAI options or PlusAI RSUs assumed by the Post-Closing Company under the Merger Agreement, (b) the exercise of Post-Closing Company assumed warrants, (c) the conversion of shares of Post-Closing Company Class B common stock or (d) the issuance of any Earnout Shares upon an Earnout Triggering Event. Because the number of Post-Closing Company Class A common stock that CCIX anticipates issuing as consideration in the business combination will constitute more than 20% of the outstanding CCIX Ordinary Shares and more than 20% of outstanding voting power prior to such issuance, CCIX would be required to obtain shareholder approval of such issuance pursuant to Nasdaq Listing Rules 5635(a) and (b) if PlusAI is to be listed on Nas