Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 56

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 56
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 with one or more businesses.

On May 6, 2024, CCIX completed its initial public offering (the “CCIX IPO”) of CCIX public units at a price of $10.00 per unit, consisting of one share of CCIX Class A Ordinary Shares and one quarter of one warrant, raising total gross proceeds of approximately $287,500,000. Simultaneously with the closing of the CCIX IPO and pursuant to a private placement of CCIX private placement units at a price of $10.00 per unit (the “CCIX Private Placement”), raising total gross proceeds of approximately $7,250,000. Since the CCIX IPO and the CCIX Private Placement, CCIX’s activity has been limited to the evaluation of initial business combination candidates.

PlusAI was founded in 2016 by entrepreneurs with deep expertise in engineering, artificial intelligence, and machine learning. PlusAI adopted an AI‑native approach to autonomy early on, using advanced AI models in place of traditional rule-based code to enable scalable and adaptive self-driving technology. Our four founders have collectively founded and scaled six other technology companies, bringing a track record of successful execution in technology markets.

PlusAI is developing autonomous driving intelligence at global scale to create lasting value for the commercial trucking ecosystem by enhancing safety and lowering the cost of freight transportation. PlusAI develops its flagship product, SuperDrive, in partnership with OEMs. SuperDrive is designed to improve safety, efficiency, and cost-effectiveness for commercial fleets. PlusAI is targeting a 2027 commercial launch of SuperDrive in collaboration with its OEM partners; it has not yet generated revenue from SuperDrive and historical revenues are either nominal or based on discontinued operations or products.

The CCIX Board conducted extensive due diligence on PlusAI’s business, financial condition, management team, and future growth prospects in executing upon and achieving its business plan. The CCIX Board considered the results of the diligence review, including the expertise of PlusAI’s management team, the large expected market desire for autonomous vehicles, the government policy and funding support being made available to accelerate development of autonomous vehicles, PlusAI’s existing OEM partnerships, as well as its AI powered virtual driver software. As a result, CCIX believes that the business combination will provide CCIX shareholders with an opportunity to participate in the ownership of a company with growth potential. Please see the section entitled “Proposal No. 1 — The Business Combination Proposal — The CCIX Board’s Reasons for Approval of the Transactions.”

Why is CCIX providing shareholders with the opportunity