Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 693

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 693
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 Luminar. During the year ended December 31, 2024, the Company executed additional SAFEs with several investors for proceeds of $14.0 million in cash. The SAFE agreement has no interest rate or maturity dates, and the SAFE investor has no voting rights prior to conversion. If the Company pays a dividend on outstanding shares of common stock, the holder of the outstanding SAFE is entitled to such dividend paid per common share multiplied by the consideration received divided by the fair market value of common stock at the dividend date times 95% if such dividend is declared within one year of issuance or 90% after the first year of issuance. Upon a liquidation or dissolution event, the SAFE has a liquidation priority similar to a non-participating preferred stock so that the investor’s right to payment is junior to debt, senior to common stock and on par with redeemable convertible preferred stock. The discount rate for the SAFE is equal to 95% for the first year after the SAFE issuance and then 90% thereafter.

Tranche 2

During October 2024, the Company executed a SAFE with an investor for proceeds of $2.7 million in cash. During February and March 2025, the Company executed SAFEs with additional investors for proceeds of $1.4 million in cash. The SAFE agreement has no interest rate or maturity dates, and the SAFE investor has no voting rights prior to conversion. If the Company pays a dividend on outstanding shares of common stock, the holder of the outstanding SAFE is entitled to such dividend paid per common share multiplied by consideration received divided the fair market value of common stock at the dividend date times 90%. Upon a liquidation or dissolution event, the SAFE has a liquidation priority similar to a non-participating preferred stock so that the investor’s right to payment is junior to debt, senior to common stock and on par with redeemable convertible preferred stock. The discount rate for the SAFE is equal to 90%.

Tranche 3

During May 2025, the Company executed a SAFE with an investor for proceeds of $1.0 million in cash. The SAFE agreement has no interest rate or maturity dates, and the SAFE investor has no voting rights prior to conversion. If the Company pays a dividend on outstanding shares of common stock, the holder of the outstanding SAFE is entitled to such dividend paid per common share multiplied by consideration received divided the fair market value of common stock at the dividend date times 90% if such dividend is declared prior to the completion of a SP