CCIXW

Churchill Capital Corp IX [CCIXW] represents warrants issued by Churchill Capital Corp IX, a special purpose acquisition company (SPAC). These warrants provide holders with the right, but not the obligation, to purchase common stock of the post-merger entity at a specified exercise price after the SPAC completes its business combination with a target company. SPAC warrants typically become exercisable upon the closing of the merger transaction and remain exercisable for several years thereafter, commonly five years. The exercise price is predetermined and usually set at a premium to the original SPAC IPO price, incentivizing warrant holders to exercise only if the merged company's stock appreciates beyond that threshold. Warrants offer leveraged exposure to the underlying stock, potentially providing magnified returns if the business combination proves successful and the stock price rises substantially. However, warrants carry expiration risk and can become worthless if the stock price fails to exceed the exercise price before expiration.