Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 279

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 279
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IX would initiate outreach to the target. CCIX contacted targets with the goal of receiving additional information to refine its initial evaluation and to determine if a potential business combination was in-line with the target’s strategic objectives. Following any initial discussions with a target, CCIX would update its evaluation criteria to determine if further review was warranted. If further review was not warranted, such target was removed from consideration. If further review was warranted, CCIX would seek additional information from the target, including business and financial information. In certain instances, it was requested by a target that CCIX enter into a non-disclosure agreement. CCIX did so on a selective basis, entering into less than 10 such agreements in 2024 and 2025 following the CCIX IPO. Prior to CCIX entering into a non-binding letter of intent with PlusAI, which contained an exclusivity provision (as described below), no target evaluated was deemed to fit CCIX’s criteria. CCIX’s exclusivity agreement with PlusAI precluded CCIX from participating in any discussions or negotiations with any potential target regarding a prospective business combination. As such, CCIX did not enter into exclusivity, nor did CCIX negotiate or agree to terms, with any of the potential targets (other than PlusAI, as described below).

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During 2024 and 2025, representatives of CCIX conducted a comprehensive review of the autonomous driving technology landscape, with a particular focus on companies leveraging advancements in artificial intelligence to accelerate the commercial deployment of autonomous vehicles. Autonomous trucking emerged as a key area of interest. As part of this review, CCIX engaged with numerous companies and industry experts to evaluate the sector’s growth prospects, competitive dynamics, business models across hardware and software, and the broader OEM and fleet customer ecosystem. Prior to engaging with PlusAI, Archimedes had already developed a favorable thematic thesis around the autonomous trucking industry. The PlusAI Board regularly evaluates and engages in discussions with third parties regarding various strategic alternatives for PlusAI, including financing and other capital raising transactions to fund operations and growth initiatives, an initial public offering of PlusAI, a potential business combination with a special purpose acquisition company, or SPAC, and other strategic transactions. Beginning in the winter of 2024, the PlusAI Board and management reviewed potential strategic alternatives in light of PlusAI’s financing plans and anticipated capital needs given PlusAI’s product development and deployment roadmap. The PlusAI Board determined to (1) explore a potential business combination with a SPAC