CCCX

Churchill Capital Corp X is a special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The SPAC was sponsored by an affiliate of Churchill Capital, a private investment firm with experience in identifying and executing business combinations. Churchill Capital Corp X raised capital through an initial public offering with the proceeds held in trust while the SPAC's management team searches for a suitable acquisition target. The company has a specified period to complete a business combination or return the funds to investors. SPACs like Churchill Capital Corp X provide an alternative path for private companies to access public capital markets compared to traditional initial public offerings. The SPAC structure allows target companies to negotiate valuations and terms directly with the SPAC sponsor and provides forward-looking financial projections during the transaction process. Upon completion of a business combination, the combined entity typically continues as a publicly traded operating company. Until a transaction is completed, Churchill Capital Corp X operates as a shell company with minimal operations.