Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 695

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 695
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 the greater of (1) the Purchase Amount or (2) the amount payable on the number of shares of common stock equal to the Purchase Amount divided by the number of shares of common stock equal to the Purchase Amount divided by the fair market value of common stock at the time of the liquidity event multiplied by the discount rate. The de-SPAC Transaction qualifies as a Liquidity Event under the SAFE terms. • Dissolution Event . If there was a dissolution event, the SAFE investor would automatically be entitled to receive repayment of its Purchase Amount in cash. • Redemption Right . If the Tranche 1 SAFE has not otherwise been terminated by January 1, 2025, the SAFE investor may elect to have all or part of the Purchase Amount repaid in cash. Since issuance, no SAFE investor has elected to settle the outstanding SAFE in cash. 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) |     |  Five Months 
        Ended 
 December 31, 
         2023 |     |     |   Year Ended 
 December 31, 
         2024 |     |   | Six Months 
      Ended 
   June 30, 
       2025 |
|:----------------------|:---------------|----:|-------------:|:----|----:|-------------:|:----|:--|-----------:|
| Operating lease cost  |                |   $ |          972 |     |   $ |        2,262 |     | $ |      1,131 |
| Short-term lease cost |                |  65 |              |     | 220 |              |     |   |        169 |
| Variable lease cost   |                | 306 |              |     | 745 |              |     |   |        486 |
| Total lease expense   |                |   $ |        1,343 |     |   $ |        3,227 |     | $ |      1,786 |

Cash paid for amounts included in the measurement of operating lease liabilities