As of September 30, 2024, Churchill Capital Corp IX reported total assets of $295.8 million, a significant increase from $65.4 thousand as of December 31, 2023. The company’s total current assets stood at $2.0 million, with cash of $1.5 million and marketable securities in the Trust account amounting to $293.6 million. Current liabilities rose slightly to $75,000 from $59,311 in the previous fiscal period. Shareholders’ equity showed a deficit of $(6.9 million), down from a positive $6,042 at the end of 2023.

For the three months ending September 30, 2024, Churchill Capital reported net income of $3.6 million, with other income primarily derived from interest income totaling $3.8 million. For the nine-month period, net income reached $5.5 million, including $6.1 million in other income. Basic and diluted net income per Class A redeemable ordinary share was $0.10 for the third quarter and $0.24 for the nine months.

Despite these positive income figures, the company also reported a net loss of $(24,092) for the third quarter. The company has not commenced operations and generated no operating revenues, with all income stemming from interest on Initial Public Offering (IPO) proceeds. The IPO, completed on May 6, 2024, raised gross proceeds of $287.5 million from the sale of 28.75 million units, including an over-allotment option.

Transaction costs associated with the IPO totaled $14.6 million, which included an upfront discount to underwriters and deferred underwriting fees. The funds raised are primarily held in a Trust account, which will be utilized for the initial business combination and working capital for target businesses.

Churchill Capital Corp IX has appointed William Sherman as a director and member of the audit and compensation committees, effective July 30, 2024. The company has sufficient funds for working capital needs for at least one year but acknowledges the potential need for additional financing to complete a business combination or if a significant number of public shares are redeemed.

As of September 30, 2024, the company had 725,000 Class A ordinary shares issued and outstanding, with 28.75 million Class A shares subject to possible redemption. The company has no long-term debt or significant contractual obligations, aside from a monthly payment for office space and administrative support.