secwatch.observer — SEC 8-K summary
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Issuer:     Churchill Capital Corp XI (CCXI)
CIK:        0002074973
Form:       8-K
Filed at:   2026-07-06T20:05:43+00:00
Accession:  0001213900-26-075480
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Churchill Capital Corp XI issues up to $1.5M promissory note to sponsor for working capital
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- Note principal up to $1,500,000, non-interest bearing, matures upon business combination or liquidation.
- Sponsor can convert outstanding principal into units at $10/unit, each unit consisting of one Class A share and one-tenth warrant.
- Proceeds used for working capital needs; sponsor waives claims against trust account.
- Note is unsecured and drawn down in increments of at least $10,000 at sponsor's discretion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2074973/000121390026075480/0001213900-26-075480-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2074973/000121390026075480/ea0296510-8k_church11.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-075480

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