CCIXHIGH SIGNALRISK10-K

CCIX experienced a dramatic deterioration in its cash position with current assets plummeting from $2.8M to just $162K while accumulated losses expanded significantly.

This SPAC is rapidly burning through its available cash reserves and now has minimal liquidity remaining to fund operations or complete a business combination. The substantial increase in accumulated losses combined with the severe cash depletion suggests the company is approaching a critical juncture where it may struggle to continue operations or fulfill its mandate to complete a merger.

Comparing 2026-02-05 vs 2025-03-31View on EDGAR →
FINANCIAL ANALYSIS

The financial position shows severe distress with current assets collapsing by over 90% to just $162K, indicating the company has nearly exhausted its cash resources. Stockholders' equity deteriorated further into negative territory, expanding losses by over $3M to reach -$10.1M total. This financial profile suggests a SPAC nearing the end of its operational runway with insufficient resources to sustain extended deal-making activities.

FINANCIAL STATEMENT CHANGES
Current Assets
Balance Sheet
-94.3%
$2.8M→$162K

Current assets declined 94.3% — monitor working capital adequacy and short-term liquidity.

Stockholders Equity
Balance Sheet
-41.2%
-$7.1M→-$10.1M

Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.

LANGUAGE CHANGES
NEW — 2026-02-05
PRIOR — 2025-03-31
ADDED
As of February 5, 2026, there were 29,475,000 Class A Ordinary Shares, par value $0.0001 per share, and 7,187,500 Class B Ordinary Shares, par value $0.0001 per share, of the registrant issued and outstanding.
Form 10-K Summary 50 SIGNATURES i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Report (as defined below), including, without limitation, statements under Part II, Item 7.
These forward-looking statements can be identified by the use of forward-looking terminology, including the words believe, estimate, anticipate, expect, intend, plan, may, will, potential, project, predict, continue, should, could or would or, in each case, their negative or other variations or comparable terminology.
domestic subsidiaries of publicly traded foreign corporations occurring on or after January 1, 2023 as provided for by the Inflation Reduction Act of 2022; FASB are to the Financial Accounting Standards Board; First PlusAI Merger Agreement Amendment are to Amendment No.
Securities and Exchange Commission; SEC Clawback Rule are to Rule 10D-1 under the Exchange Act; Second PlusAI Merger Agreement Amendment are to Amendment No.
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REMOVED
As of March 28 , 2025, there were 29,475,000 Class A Ordinary Shares, par value $0.0001 per share, and 7,187,500 Class B Ordinary Shares, par value $0.0001 per share, of the registrant issued and outstanding.
These forward-looking statements can be identified by the use of forward-looking terminology, including the words believes, estimates, anticipates, expects, intends, plans, may, will, potential, projects, predicts, continue, or should, or, in each case, their negative or other variations or comparable terminology.
In addition, the SEC s adopting release provided guidance describing circumstances in which a SPAC could become subject to regulation under the Investment Company Act (as defined below), including its duration, asset composition, business purpose, and the activities of the SPAC and its management team.
The 2024 SPAC Rules may materially affect our ability to negotiate and complete our initial Business Combination and may increase the costs and time related thereto.
Overview We are a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.
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