Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 700

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 700
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 Stock, and (2) all declared but unpaid dividends on such Preferred Stock, plus (3) an interest of 10% per annum, calculated on a compound basis, for each year measured from either the original date of issuance or November 18, 2020 with respect to Series A-4 and A-4-X Preferred Stock to the redemption date; or

the fair market value of such respective series of Preferred Stock.

If the Company’s assets or funds on the redemption date are insufficient to pay the full redemption price, those assets or funds shall be used to pay the redemption price to the redeeming stockholders in the sequence of (1) Series C and Series C-1 Preferred Stock (2) Series B and Series B-X Preferred Stock, (3) Series A-4, Series A-4-X, Series A-3 and Series A-3-X Preferred Stock, in a pro-rata manner in accordance with the relative full amounts owed thereon. For the five months ended December 31, 2023, the year ended December 31, 2024, and for the six months ended June 30, 2025, the Company recognized $15.2 million, $29.8 million, and $32.6 million of accretion on the Redeemable Convertible Preferred Stock, respectively.

Series A-1 and Series A-2 Preferred Stock are not redeemable other than upon a Deemed Liquidation Event.

Voting Rights

The Series A-3-X, the Series A-4-X and the Series B-X Preferred Stock are entitled to 1/4 vote per share on an as-converted to Class A common stock basis. All other series of Preferred Stock are entitled to one vote for each share of Class A common stock into such Preferred Stock could be converted. The holders of Preferred Stock, voting separately as a single class, elect three directors of the Company’s Board of Directors. The holders of common stock, voting separately as a single class, elect two directors of the Company’s Board of Directors.

Conversion

Each holder of Preferred Stock has the right toconvert any or all Preferred Shares, at any time, into a number of fully paid and nonassessable shares of Class A common stock determined by dividing the original issue price by the conversion price in effect at the time. The initial conversion price is equal to the original issue price and is subject to adjustment in accordance with anti-dilution adjustments.

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NOTES TO CONS