Churchill Capital Corp IX (CCIX) is a blank-check special purpose acquisition company (SPAC) that raised capital through an initial public offering to identify and complete a single business combination with a private operating company. The company does not generate operating revenue. It holds IPO proceeds in a Trust Account, from which withdrawals are restricted to working capital needs (capped at $1,000,000 annually from interest) and tax payments, pending completion of a qualifying business combination. As of the 10-K filed February 5, 2026, CCIX has entered into the PlusAI Merger Agreement, dated June 5, 2025 and subsequently amended, to merge with Plus Automation, Inc., a Delaware corporation focused on autonomous vehicle technology. The company is sponsored by an affiliate of M. Klein and Company and maintains executive offices at 640 Fifth Avenue, 14th Floor, New York, NY 10019, paying $30,000 per month to a Sponsor affiliate for office space and administrative support. Management has disclosed going concern doubt tied to the deadline for completing or liquidating the Trust Account.

Revenue model

CCIX generates no operating revenue. The economic model for the Sponsor and insiders is carried interest through Founder Shares, which vest and appreciate only upon successful completion of a business combination. Operating Partners share in Founder Share appreciation post-combination, receiving no cash compensation prior to a deal close.

Products and services

The sole activity is sourcing, evaluating, and executing a business combination. The identified target as of the filing date is Plus Automation, Inc. (PlusAI), a Delaware corporation, under an Agreement and Plan of Merger and Reorganization dated June 5, 2025, as amended September 8, 2025 and September 18, 2025.

Customers and end markets

CCIX has no customers in the traditional sense. Its counterparties are public shareholders who subscribed in the IPO and the target company, PlusAI. The end market exposure will be determined by the completed business combination with PlusAI.

Value-chain role

CCIX functions as an acquisition vehicle, providing a public-market entry path and capital access for a private target. M. Klein and Company serves as the Sponsor affiliate providing deal sourcing, management infrastructure, and office support under the Administrative Support Agreement at $30,000 per month.

Geographic exposure

Executive offices are located in New York, NY 10019 as of the 10-K filed February 5, 2026. No other geographic exposure is disclosed for CCIX as a standalone entity.

Source: SEC 10-K, filed 2026-02-05

Industry: Services-Computer Integrated Systems Design