secwatch.observer — SEC 8-K summary
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Issuer:     Churchill Capital Corp XI (CCXI)
CIK:        0002074973
Form:       8-K
Filed at:   2026-08-10T10:35:57+00:00
Accession:  0001213900-26-086928
Event type: debt
Sentiment:  neutral
Materiality: 0.25
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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- On Aug 7, 2026, issued unsecured promissory note up to $1,500,000 to Churchill Sponsor XI LLC for working capital.
- Note bears no interest; matures upon earlier of initial business combination or liquidation.
- Sponsor may convert outstanding principal into units at $10.00 per unit, each unit = 1 Class A share + 1/10 warrant.
- Conversion units identical to IPO private placement units and carry registration rights.
- Payee waives claims against trust account; note is unsecured and not registered under Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2074973/000121390026086928/0001213900-26-086928-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2074973/000121390026086928/ea0301196-8k_church11.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-086928

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