CCIXWHIGH SIGNALFINANCIAL10-K

CCIXW experienced a severe liquidity deterioration with current assets plummeting 94% to just $162K while stockholder deficit deepened to -$10.1M.

The dramatic cash burn and minimal remaining liquidity position creates immediate going-concern risks for this SPAC. With only $162K in current assets remaining, the company faces severe constraints on its ability to fund operations and complete its stated business combination objective.

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

The balance sheet reveals a company in severe financial distress, with current assets collapsing from $2.8M to just $162K, representing a 94% decline that signals extreme cash burn. Stockholders' equity deficit expanded from -$7.1M to -$10.1M, indicating deteriorating net worth. This financial profile suggests the SPAC is rapidly consuming its available capital with minimal liquidity remaining to sustain operations or pursue acquisition targets.

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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