Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 187

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 187
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, a “SPAC”) in recent years, CCIX issued shares as part of the CCIX Units for $10.00 per unit upon the closing of its IPO. As with other SPACs, the $10.00 per unit price of CCIX reflected each share having a right to redeem such share for a pro rata portion of the proceeds held in the trust account prior to the Closing and certain other events. Following the IPO the proceeds held in the trust account were initially equal to $10.00 per share. As of September 30, 2025, amounts held in the trust account related to redeemable shares was equal to approximately $10.59 per share. Following the Closing, the shares outstanding will no longer have any such redemption right and will be solely dependent upon the fundamental value of the combined company, which, like the securities of other companies formed through SPAC mergers in recent years, may be significantly less than both the redemption price and the amount per share initially held in the trust account upon consummation of the IPO.

Provisions contained in the Proposed Certificate of Incorporation, the Proposed Bylaws and Delaware law could prevent a takeover that stockholders consider favorable and could also reduce the market price of our stock.

The Proposed Certificate of Incorporation, the Proposed Bylaws and Delaware law contain provisions that could delay or prevent a change in control of the Post-Closing Company. These provisions could also make it more difficult for stockholders to elect directors and take other corporate actions. These include:

providing that our board of directors will be classified into three classes of directors with staggered three-year terms;

allowing stockholders to remove directors only for cause;

providing that authorized number of directors may be fixed only by resolution of our board of directors acting pursuant to a resolution adopted by a majority of the total number of authorized directorships (regardless of vacancies or unfilled seats, the “ Whole Board ”);

providing that vacancies on our Board of Directors may be filled only by a majority of directors then in office, even though less than a quorum;

authorizing the Board of Directors to adopt or amend bylaws;

prohibiting cumulative voting in the election of directors;

eliminating stockholders’ ability to act via written consent;

providing that a special meeting of stockholders may only be called by the Chairperson, Chief Executive Officer, President or the Board of Directors acting pursuant to a resolution of the Whole Board;

requiring advance notification of stockholder nominations and proposals;

limiting