Announcement • Dec 15
Churchill Capital Corp VI Files Form 15 Churchill Capital Corp. VI has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Shares of Class A common stock under the Securities Exchange Act of 1934, as amended. Announcement • Nov 19
NYSE To File A Form 25 with the United States Securities and Exchange Commission to Delist Churchill Capital's Securities Churchill Capital Corp. VI announced that its board of directors (the "Board") has determined to redeem all of its outstanding shares of Class A common stock, par value $0.0001 (the "public shares") because the Company will not consummate an initial business combination within the time period required by its Amended and Restated Certificate of Incorporation (as amended, the "Certificate of Incorporation"). The previously disclosed non-binding letter of intent has been terminated in accordance with its terms. As stated in the Certificate of Incorporation, if the Company is unable to complete an initial business combination by February 17, 2024 (or such earlier date as determined by the Board), the Company will: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter subject to lawfully available funds therefor, redeem 100% of the public shares in consideration of a per share price, payable in cash, equal to the quotient obtained by dividing (A) the aggregate amount then on deposit in the trust account, including interest (net of amounts withdrawn as permitted withdrawals and less up to $100,000 of such net interest to pay dissolution expenses), by (B) the total number of then outstanding public shares, which redemption will completely extinguish rights of the holders of the public shares (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining stockholders and the Board in accordance with applicable law, dissolve and liquidate, subject in each case to the Company's obligations under the General Corporation Law of the State of Delaware, as amended from time to time, to provide for claims of creditors and other requirements of applicable law. On November 17, 2023, the Board determined to set the date by which the Company has to complete its initial business combination to December 1, 2023. The Company expects that the NYSE will file a Form 25 with the United States Securities and Exchange Commission (the "Commission") to delist its securities. The Company thereafter expects to file a Form 15 with the Commission to terminate the registration of its securities under the Securities Exchange Act of 1934, as amended. New Risk • Aug 15
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Negative equity (-US$26m). Revenue is less than US$1m. 
