Churchill Capital Corp IX to merge with Plus Automation at $1.2B pre-money equity value

Churchill Capital Corp IX/Cayman

Pre-money equity value of Plus Automation set at $1.2B; Exchange Ratio based on $10.00 per share.
Closing requires minimum $100M cash in trust after redemptions; expected by Feb 5, 2026.
Cayman-to-Delaware domestication; post-merger name to be PlusAI Holdings, Inc.
Up to 15M earnout shares issuable in three tranches tied to $12/$14 VWAP thresholds.
Sponsor to forfeit up to 718,750 shares based on redemptions; 1.08M shares subject to performance vesting.

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