Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 485

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 485
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 We were engaged to retrofit a fleet of trucks with the PlusDrive system, which was fully completed prior to July 31, 2023. We are paid an agreed-upon fee for each retrofitted truck, and an annual software maintenance fee per truck. We do not expect future sales of goods or services outside of receiving annual software maintenance fees under this contract.

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Research and Development

During the five months ended December 31, 2023, R&D is comprised of $12.2 million for personnel-related costs, $0.4 million for stock-based compensation, $1.9 million for facility-related and other costs, $0.3 million for professional services, and $3.7 million for supplies and equipment-related costs. We also recorded $5.6 million related to reimbursements of NRE costs received from our collaboration partners as a reduction to R&D expenses.

During the year ended December 31, 2024, R&D is comprised of $33.5 million for personnel-related costs, $2.5 million for stock-based compensation, $4.7 million for facility-related and other costs, $0.4 million for professional services, and $11.1 million for supplies and equipment-related costs. We also recorded $12.5 million related to reimbursements of NRE costs received from our collaboration partners as a reduction to R&D expenses.

During the six months ended June 30, 2025, R&D is comprised of $19.3 million for personnel-related costs, $0.2 million for stock-based compensation, $2.5 million for facility-related and other costs, $0.1 million for professional services, and $6.8 million for supplies and equipment-related costs. We also recorded $0.7 million related to reimbursements of NRE costs received from our collaboration partners as a reduction to R&D expenses.

Sales, Marketing, General, and Administrative

During the five months ended December 31, 2023, SG&A is comprised of $3.9 million for personnel-related costs, $0.5 million for stock-based compensation, $0.9 million for facility-related and other costs, $2.3 million for professional services, $0.1 million for supplies and equipment-related costs, and $0.5 million for marketing costs.

During the year ended December 31, 2024, SG&A is comprised of $9.1 million for personnel-related costs, $1.6 million for