Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 150

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 150
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 costs. It is also possible that we will be required to expand our employee base and hire additional employees to support our operations as a public company, which will increase our operating costs in future periods.

We identified material weaknesses in our internal control over financial reporting in connection with the preparation and audit of our consolidated financial statements for the five months ended December 31, 2023, year ended December 31, 2024 and the six months ended June 30, 2025, and we may identify additional material weaknesses in the future that may cause us to fail to meet our reporting obligations or result in material misstatements of our consolidated financial statements. If we fail to remediate existing material weaknesses, identify additional material weaknesses or fail to establish and maintain effective internal control over financial reporting, our ability to accurately and timely report our financial results could be adversely affected.

In connection with the preparation of our consolidated financial statements, the Company identified material weaknesses in our internal control over financial reporting.

A material weakness is a deficiency or combination of deficiencies in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of our consolidated financial statements will not be prevented or detected on a timely basis. To date, we have had limited financial and accounting personnel to fully execute our accounting processes and address our internal control over financial reporting. In connection with the preparation and audit of our consolidated financial statements for the five months ended December 31, 2023, we and our former independent registered public accounting firm identified a material weakness. Specifically, it was

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determined that we failed to maintain a sufficient complement of personnel with an appropriate degree of internal controls and accounting knowledge, experience, and training to maintain an effective control environment commensurate with our financial reporting requirements. We and our current independent registered public accounting firm for such period also identified the material weakness. Specifically, that significant adjustments were identified to the previously reported financial statements due to improper application of accounting guidance of a magnitude that indicated a deficiency in technical accounting. Furthermore, in connection with the preparation of our consolidated financial statements for the year ended December 31, 2024 and the six months ended June 30, 2025, the Company identified material weaknesses in our internal control over financial reporting due to a lack of a sufficient complement of personnel with an appropriate degree of internal controls and accounting knowledge, experience, and training to maintain an effective control environment commensurate with its financial reporting requirements. This material weakness in the control environment contributed to additional material weaknesses in the