Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 533

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 533
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 an amount equal to $10.00 per share.

Following the Closing, and as additional consideration for the Merger, PlusAI equity holders will be issued a contingent right to receive up to an aggregate of 15,000,000 shares of the Post-Closing Company common stock (the “Earnout Shares”) in three separate tranches that have the following triggering events within the five year from the Closing (“Earnout Period”):

5,000,000 Earnout Shares will vest or be issued to legacy PlusAI equity holders, if within the Earnout Period, the volume weighted average closing price of the Post-Closing Company common stock equals or exceeds $12.00 per share or upon a Change in Control over the Post-Closing Company with an implied price that equals or exceeds $12.00 per share;

5,000,000 additional Earnout Shares will vest or be issued to legacy PlusAI equity holders, if within the Earnout Period, the volume weighted average closing price of the Post-Closing Company common stock equals or exceeds $14.00 per share or upon a Change in Control over the Post-Closing Company with an implied price that equals or exceeds $14.00 per share; and

5,000,000 remaining Earnout Shares will vest or be issued to legacy PlusAI equity holders, if within the Earnout Period, the volume weighted average closing price of the Post-Closing Company common stock equals or exceeds $16.00 per share or upon a Change in Control over the Post-Closing Company with an implied price that equals or exceeds $16.00 per share.

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The Earnout Consideration will be allocated among and issued to all Eligible Holders of the PlusAI Company Stock outstanding as of immediately prior to the Effective Time, after giving effect to the conversions described above as part of the Merger Agreement and as a result of the PlusAI Options granted under the 2021 Plan. The Merger Agreement provides that up to 1,222,000 shares from the Earnout Consideration may be reallocated by the Post-Closing Company to the Post-RSU Vesting Pool, subject to the same vesting conditions.

For purposes of the pro forma condensed combined financial information presented, the following key assumptions have been utilized:

The Equity Value is $1,200,000,000, which assumes no SAFE issuances qualify as the Permitted Equity Financing Amount, and assuming the PlusAI transactions expenses do not exceed $12.0 million. The estimated Exchange Ratio