Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 300

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 300
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 the Unit Economics from any given customer or at all. See the section entitled “ Risk Factors-Risks Related to PlusAI .” In addition, no assurances can be given that PlusAI or its OEM partners will achieve the savings or implied results described in the Unit Economics on the terms set forth in the Unit Economics or at all. See the section entitled “ Risk Factors — Risks Related to PlusAI. ” The key assumptions for SuperDrive Unit Economics include: • Annual Autonomous Miles : • Operational Availability . Trucks will be available to drive up to 24 hours per day and operate up to 315 days per year accounting for regular truck maintenance and repair. • Utilization (autonomous drive mode) . Autonomous driving utilization will be 75% to account for non-autonomous operations such as loading and unloading of freight.

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• Average Driving Speed . Trucks will average 42 miles per hour which is adjusted for traffic and safety stops. • Autonomous Net Value. A SuperDrive-enabled truck will charge $0.85 per mile to be paid by truck operators to the OEM for autonomous operations. • Revenue per mile . PlusAI will receive between 20% to 25% of the expected autonomous net value of $0.85 per mile. • Gross Margin % : A SuperDrive-enabled truck will have a gross margin of 85%. In addition to the Unit Economics depicted above, PlusAI also provided to CCIX certain estimates and other assumptions that PlusAI’s management relied upon in preparing PlusAI's business model. These estimates and assumptions included estimates with respect to certain expenses and working capital and an illustrative schedule depicting a range of deployment targets of L4 autonomous trucks through 2035. With respect to expected sales, marketing, general and administrative expenses, PlusAI expected (1) these expenses before first deployment to be approximately $15 million in 2025 scaling to approximately $22 million by 2027 and (2) the long-term assumption to be approximately 5% of company revenue. With respect to expected research and development expenses, PlusAI expected (1) these expenses before first deployment to be approximately $60 million in 2025 scaling to approximately $84 million by 2027 and (2) the long-term assumption to be approximately 25% of company revenue. With respect to expected capital expenditures, PlusAI expected (1) these expenses before first deployment to be approximately $6 million and (2) the long-term assumption to be approximately 0.3% of company revenue.