Churchill Capital Corp IX(CCIX)
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Churchill Capital Corp IX(CCIX) - 2025 Q4 - Annual Report
2026-02-05 22:31
IPO and Fundraising - The company completed its Initial Public Offering (IPO) on May 6, 2024, raising gross proceeds of $287,500,000 from the sale of 28,750,000 Public Units at a price of $10.00 per unit[23]. - A private sale of 725,000 Private Placement Units was completed simultaneously with the IPO, generating an additional $7,250,000 in gross proceeds[24]. - The total amount placed in the Trust Account is $287,500,000, which includes $283,558,750 from the IPO and $3,941,250 from the Private Placement[25]. - The company has placed $287,500,000 in the Trust Account following the Initial Public Offering and Private Placement[187]. - As of December 31, 2025, the Trust Account held marketable securities and cash totaling $307,617,399, an increase from $296,122,647 in 2024[198]. Business Combination Details - The company must complete its initial Business Combination by May 6, 2026, or face termination and distribution of Trust Account amounts[26]. - The PlusAI Business Combination is based on a pre-money equity value of PlusAI of $1,200,000,000, subject to adjustments[35]. - The Closing of the PlusAI Business Combination is subject to conditions including shareholder approvals and a Minimum Cash Condition of at least $100,000,000 available in the Trust Account[41]. - The company will undergo a Domestication to become PlusAI Holdings, Inc. prior to the Closing of the Mergers[33]. - The PlusAI Merger Agreement includes customary representations and covenants from both parties to ensure compliance and operational continuity[39]. - The company has the option to extend the Combination Period with shareholder approval, which may affect its Nasdaq listing[27]. - The PlusAI Business Combination is contingent upon stockholders not exercising dissenters' rights and no Material Adverse Effect occurring[42]. - The PlusAI Merger Agreement can be terminated if not consummated by February 17, 2026, or if certain conditions are not met[43]. - PlusAI stockholders have entered into Voting and Support Agreements to facilitate the approval of the Merger Agreement and prevent delays[44]. - The company intends to complete its initial Business Combination using proceeds from its Trust Account, shares, debt, or a combination thereof[75]. Financial Performance and Projections - For the year ended December 31, 2025, the company reported a net income of $8,556,703, which includes $12,494,752 in interest income[196]. - The company incurred $14,560,986 in fees related to the Initial Public Offering, including a cash underwriting fee of $5,750,000[197]. - The company has determined that it currently lacks the liquidity to sustain operations for at least one year, raising substantial doubt about its ability to continue as a going concern[207]. - The company may face significant dilution for Public Shareholders due to the nominal purchase price of Founder Shares, which was approximately $0.003 per share[175]. Shareholder Rights and Redemption - Public Shareholders are restricted from redeeming more than 15% of the Public Shares sold in the Initial Public Offering without prior consent, to prevent manipulation[113]. - If the initial Business Combination is not completed, Public Shareholders who elected to redeem their shares will not receive any funds from the Trust Account[120]. - The company intends to comply with the substantive and procedural requirements of Regulation 14A for any shareholder vote, even if it cannot maintain its Nasdaq listing[116]. - The redemption process will involve a nominal fee of approximately $100.00 charged by the transfer agent for tendering shares[117]. - Public Shareholders can withdraw their redemption requests up to two business days before the scheduled vote on the Business Combination[118]. Management and Strategy - The Management Team aims to identify high-quality acquisition targets with compelling long-term growth prospects and operational improvement opportunities[51]. - Strategic and Operating Partners will assist in sourcing acquisition targets and enhancing operational performance post-Business Combination[52]. - The company will leverage its network and relationships to identify Business Combination opportunities and accelerate target growth[55]. - The competitive strengths of the Management Team and Strategic Partners provide a significant pipeline of opportunities for evaluation and selection[58]. - The company believes its management team's experience provides a distinct advantage in sourcing and evaluating attractive transaction opportunities[59]. Risks and Challenges - The company may face intense competition from other entities for Business Combinations, which could limit its ability to acquire larger target businesses[135]. - The company’s Sponsor, M. Klein and Company, may have conflicts of interest that could limit the opportunities available for Business Combinations[136]. - There is no guarantee that third parties will execute waivers of claims against the Trust Account, which could expose the company to additional risks[128]. - The company may face challenges in completing its initial Business Combination due to limited resources and significant competition for opportunities[156]. - The company may not be able to acquire target businesses that cannot provide required financial statements in accordance with federal proxy rules[145]. Regulatory and Compliance - The company is required to evaluate its internal control procedures for the fiscal year ending December 31, 2025, as mandated by the Sarbanes-Oxley Act[146]. - The company has applied for a tax exemption from the Cayman Islands government for a period of 30 years, exempting it from certain taxes on profits and income[147]. - The company qualifies as an "emerging growth company," allowing it to take advantage of certain exemptions from reporting requirements[148]. - The company will remain an emerging growth company until it has total annual gross revenue of at least $1.235 billion or the market value of its Class A Ordinary Shares held by non-affiliates equals or exceeds $700 million[150]. - The company is classified as a "smaller reporting company," which allows it to provide only two years of audited financial statements[151].
Nordique Announces Change in CEO and Director
Thenewswire· 2026-01-29 13:00
Core Viewpoint - Nordique Resources Inc. has appointed James Hocking as the new CEO and director, succeeding Sharyn Alexander who has resigned to pursue other opportunities [1][3]. Group 1: Leadership Change - James Hocking brings over 20 years of experience in the resources sector, with a background in equity capital markets, mergers and acquisitions, and commercial development [2]. - Hocking previously held senior roles at BHP Group, where he led commercial initiatives for major mining and infrastructure operations [2]. - The company expresses gratitude to Sharyn Alexander for her contributions and wishes her well in her future endeavors [3]. Group 2: Company Overview - Nordique Resources Inc. is a Canadian mineral exploration company focused on high-potential opportunities in tier one jurisdictions [4]. - The company's flagship asset is the Isoneva Project in central Finland, which is under option from Gemdale Gold Inc., along with the early-stage Fairview Project in British Columbia [4]. - Nordique aims to create significant shareholder value through modern, data-driven exploration and strong local partnerships [4].
Blue Lagoon Milling Partner Nicola Mining Shifts Focus Exclusively to Blue Lagoon's Gold & Silver Mineralized Material
Thenewswire· 2026-01-29 13:00
Core Viewpoint - Blue Lagoon Resources Inc. is advancing underground production at its 100%-owned Dome Mountain Gold & Silver Project, with its milling partner, Nicola Mining Inc., focusing exclusively on processing the Company's high-grade mineralized material [1][2]. Group 1: Production and Processing - Nicola Mining will dedicate its milling capacity solely to material from Dome Mountain, streamlining the processing path as Blue Lagoon enhances underground operations [2]. - Blue Lagoon has received nearly $1 million for the initial 1,000 tonnes delivered to Nicola in December and expects to deliver an additional 1,500 tonnes by the end of the week, totaling approximately 2,500 tonnes [3]. - The Company is building inventory in advance of scheduled milling, reflecting a steady increase in underground output following the opening of multiple mining faces [3][6]. Group 2: Market Environment - The operational advancements are occurring in a favorable gold and silver price environment, with spot gold prices exceeding US$5,500 per ounce and silver prices over US$115 per ounce [4]. - Management believes that the current price backdrop enhances the leverage of near-term production as operations at Dome Mountain ramp up [4][6]. Group 3: Company Strategy and Future Plans - Blue Lagoon aims to execute operations safely and consistently while maintaining a predictable delivery schedule to its milling partner [6]. - The Company plans to reinvest internally generated cash flow into near-mine and regional exploration starting in H1 2026 to expand its resource base [10]. - Blue Lagoon is committed to sustainability and community engagement, aiming to be a profitable gold producer while creating lasting value for shareholders [11].
Churchill Capital Corp IX: AI Trucking, Upcoming SPAC Merger
Seeking Alpha· 2026-01-29 13:00
Core Insights - The article discusses the author's journey from a political career to value investing, emphasizing the importance of risk management and long-term wealth growth [1] Group 1: Career Transition - The author initially pursued a career in politics but shifted to finance after facing challenges in 2019, recognizing the need for financial stability [1] - The transition to value investing was motivated by a desire to make money work effectively and to protect against future setbacks [1] Group 2: Professional Experience - From 2020 to 2022, the author worked in a sales role at a law firm, where they became the top-grossing salesman and managed a team, contributing to sales strategy [1] - The experience gained during this period was instrumental in assessing company prospects based on their sales strategies [1] Group 3: Investment Advisory Role - The author served as an investment advisory representative with Fidelity from 2022 to 2023, focusing on 401K planning [1] - Despite excelling in this role and passing Series exams ahead of schedule, the author felt constrained by Fidelity's reliance on modern portfolio theory, leading to a decision to leave after one year [1] Group 4: Current Endeavors - In November 2023, the author began writing for Seeking Alpha, sharing investment opportunities and insights with readers [1] - The articles reflect the author's personal investment journey, allowing readers to engage in the same path of value investing [1]
BioVaxys Reports Positive Phase 2 Data for Maveropepimut (MVP-S) + Pembrolizumab and Low-Dose Cyclophosphamide in Metastatic Bladder Cancer
Thenewswire· 2026-01-29 13:00
Core Insights - BioVaxys Technology Corp. announced positive findings from a Phase 2 clinical study of maveropepimut-S (MVP-S) in combination with pembrolizumab and low-dose cyclophosphamide for advanced or metastatic bladder cancer, reinforcing the potential of MVP-S to enhance checkpoint inhibitor activity across multiple solid tumor indications [1][4] Group 1: Clinical Study Findings - The Phase 2 study assessed the safety, tolerability, and clinical activity of the combination regimen in patients with metastatic bladder cancer, including those who had progressed on prior anti-PD1/PD-L1 therapies [2] - Key findings indicate that combining MVP-S with checkpoint inhibitors can expand antigen-specific T cell responses, reduce regulatory T-cell activity, and amplify anti-tumor activity [2] - Of 17 evaluable subjects, five showed objective responses, including 2 confirmed complete responses (CRs) and 3 partial responses (PRs), with notable responses in patients previously resistant to checkpoint inhibitors [5] Group 2: MVP-S Mechanism and Composition - MVP-S is a DPX-based immunotherapy that includes multiple survivin-derived peptides, a T-helper peptide, and an innate immune stimulant, promoting efficient antigen uptake and robust T-cell activation [3] - The DPX platform employs a novel, non-aqueous, lipid-in-oil formulation that mimics natural immune processes, resulting in durable immune responses without systemic release at the injection site [3] Group 3: Market Context and Future Opportunities - The encouraging results from the Phase 2 study support advancing MVP-S toward Phase 3 development in ovarian cancer and exploring broader partnering opportunities across additional indications [4] - Major anti-PD1 therapies, such as Merck's Keytruda and Bristol Myers Squibb's Opdivo, are approaching significant patent expirations by 2028, creating opportunities for MVP-S in a competitive market [4] - BioVaxys continues to advance its oncology pipeline, with MVP-S demonstrating consistent tolerability and immune activation across various cancer indications [6]
Hi-View Hires Corporate Development Lead to Support First Nations Consultation in the Toodoggone
Thenewswire· 2026-01-29 13:00
Company Overview - Hi-View Resources Inc. is a publicly listed mineral exploration company on the Canadian Securities Exchange, focusing on gold, silver, and copper assets in the Toodoggone region of northern British Columbia [3] - The company holds over 27,791 hectares of land, including high-priority projects such as the Golden Stranger Project, Lawyers claims, and Borealis Project, with additional properties under option and 1,300 hectares under mineral claim application [3] Key Appointment - Perry Cook has been appointed to the role of Corporate Development, bringing over 30 years of experience in the natural resources sector, particularly in mining and collaboration with First Nations communities [1][2] - His background includes media and marketing, and he has previously worked with the Tsay Keh Dene First Nation in the Toodoggone region, which will enhance Hi-View's community engagement efforts [1][2] Strategic Focus - The company aims to build strong relationships with local First Nations, including Kwadacha, Takla, and Tsay Keh Dene Nations, to ensure responsible exploration and transparent communication [2] - Hi-View holds one of the largest land packages in the Toodoggone district, with a market cap and share count among the lowest in its peer group, positioning it for significant exploration opportunities [2]
PlusAI to Host Analyst Day on January 28, 2026
Businesswire· 2026-01-26 21:30
Company Overview - PlusAI is a leader in AI software for autonomous trucks, focusing on AI-based virtual driver software for factory-built autonomous trucks [4] - The company is headquartered in Silicon Valley and has operations in the United States and Europe [4] - PlusAI has been recognized as one of the World's Most Innovative Companies by Fast Company [4] Upcoming Events - PlusAI will host an Analyst Day on January 28, 2026, where senior leaders will discuss the company's business, technology, and operational developments [1] - The event will be streamed live from the Nasdaq Marketsite and will be available for replay [2] Business Combination - PlusAI has entered into a definitive business combination agreement with Churchill Capital Corp IX, a special purpose acquisition company [3] - The business combination is expected to close in February 2026, pending stockholder approvals and other closing conditions [3] - Upon completion, the combined company will operate as PlusAI and is expected to be listed on the Nasdaq under the ticker "PLS" [3] Partnerships and Collaborations - PlusAI collaborates with several major partners, including TRATON GROUP's Scania, Hyundai Motor Company, and NVIDIA, to accelerate the deployment of next-generation autonomous trucks [4]
Churchill Capital, PlusAI announce amended filing of registration statement
Yahoo Finance· 2025-12-31 14:50
Group 1 - PlusAI and Churchill Capital Corp IX (CCIX) have filed an amended registration statement with the U.S. Securities and Exchange Commission (SEC) regarding their proposed business combination [1] - The registration statement includes a preliminary proxy statement/prospectus and is not yet effective, indicating that the information may change [1] - The business combination is expected to close in the first quarter of 2026, pending approval from Churchill IX shareholders and SEC effectiveness [1] Group 2 - Upon completion, the combined entity will operate under the name "PlusAI" and is anticipated to be listed on Nasdaq with the ticker symbol "PLS" [1] - This filing follows a previous amendment to the draft registration statement made on December 5, 2025, marking progress towards the business combination [1] - The business combination is subject to customary closing conditions in addition to shareholder approval and SEC declaration [1]
PlusAI and Churchill Capital Corp IX Announce Amended No 2 Filing of Registration Statement on Form S-4 in Connection with Proposed Business Combination
Businesswire· 2025-12-30 14:42
Core Viewpoint - PlusAI, a leader in AI software for autonomous trucks, is moving forward with a business combination with Churchill Capital Corp IX, as indicated by their amended filing with the U.S. Securities and Exchange Commission [1] Group 1: Company Information - PlusAI specializes in AI software specifically designed for autonomous trucks, positioning itself as a key player in the autonomous driving industry [1] - Churchill Capital Corp IX is a publicly traded special purpose acquisition company (SPAC), which is facilitating the business combination with PlusAI [1] Group 2: Regulatory Filings - The companies have submitted an amended registration statement on Form S-4 to the U.S. Securities and Exchange Commission, which includes a preliminary proxy statement/prospectus related to the proposed business combination [1]
Churchill Capital Corp IX(CCIX) - 2025 Q3 - Quarterly Report
2025-11-12 21:07
IPO and Fundraising - The company completed its Initial Public Offering (IPO) on May 6, 2025, raising gross proceeds of $287.5 million from the sale of 28,750,000 Units at $10.00 per Unit, including the full exercise of the over-allotment option[119] - The company also raised an additional $7.25 million from the sale of 725,000 Private Placement Units at $10.00 per Unit, generating total gross proceeds of $294.75 million[120] - The company incurred transaction costs of $14,560,986 related to the IPO, which included $5,750,000 in upfront discounts and $10,062,500 in deferred underwriting fees[136] Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $2,323,436, which includes $3,239,348 of interest income from the Trust Account, offset by $915,912 in general and administrative costs[131] - For the nine months ended September 30, 2025, the company reported a net income of $5,879,945, including $9,417,973 of interest income from the Trust Account, with general and administrative costs amounting to $3,538,028[132] - The company has not generated any operating revenues to date and does not expect to do so until after the completion of its Business Combination[130] Business Combination and Agreements - The company entered into a Merger Agreement with PlusAI on June 5, 2025, intending to effect a business combination, subject to shareholder approval and other closing conditions[125] - The Company intends to complete a Business Combination with PlusAI, with the merger structure involving two merger subsidiaries[148] - The Company entered into an Advisory Agreement with the underwriter for a cash fee of $7,000,000 upon consummation of a Business Combination, with an additional fee of up to $3,000,000 at the Company's discretion[147] Trust Account and Working Capital - As of September 30, 2025, the company had withdrawn $1,000,000 in interest from the Trust Account for working capital purposes, with no further amounts available for withdrawal until May 6, 2026[139] - As of September 30, 2025, the Company does not believe it will have sufficient funds for working capital needs for at least one year[141] - If a Business Combination is not completed by August 6, 2026, there will be a mandatory liquidation, raising substantial doubt about the Company's ability to continue as a going concern[142] Accounting and Administrative Costs - The Company incurs $30,000 per month for office space and administrative support, starting from May 2, 2024[144] - The Company incurred $56,250 and $108,750 in fees related to Director Agreements for the three and nine months ended September 30, 2025, respectively[145] - The Company early adopted ASU 2025-03, which impacts the accounting for the de-SPAC Transaction, effective from July 1, 2025[150] - Management does not believe that any recently issued accounting pronouncements will have a material effect on the Company's financial statements[151] Combination Period and Extensions - The company has until August 6, 2026, to complete its Business Combination, or it will cease operations and redeem Public Shares at a price equal to the amount in the Trust Account[122] - The company may seek to extend the Combination Period, which would require public shareholder approval and could affect the amount held in the Trust Account[124] Off-Balance Sheet Arrangements - The Company has no off-balance sheet arrangements as of September 30, 2025, and does not participate in transactions that create relationships with unconsolidated entities[143] Underwriting and Commissions - Upon completion of the initial Business Combination, underwriters are entitled to a deferred underwriting commission of 3.5% on Units sold, up to $10,062,500[146]