June 5, 2025
Willkie is serving as transaction counsel to Churchill Capital Corp IX (Nasdaq: CCIX), a special purpose acquisition company, on its business combination with Plus Automation Inc., a Physical AI company commercializing AI-based virtual driver software for autonomous trucks. Upon closing of the transaction, the combined company will operate as PlusAI, a public company.
On June 5, Plus and Churchill IX announced that they entered into a definitive business combination agreement to take Plus public. The transaction values Plus at $1.2 billion pre-money equity value, and is expected to provide up to $300 million in gross proceeds to fund Plus through the planned commercial launch of factory-built autonomous trucks in 2027.
The transaction is expected to close in the fourth quarter of 2025, subject to satisfaction of customary closing conditions, including approval by Churchill IX shareholders and Plus shareholders.
The Willkie team is led by partners Gregory Astrachan, Sean Ewen and Esther Chang.
On June 5, Plus and Churchill IX announced that they entered into a definitive business combination agreement to take Plus public. The transaction values Plus at $1.2 billion pre-money equity value, and is expected to provide up to $300 million in gross proceeds to fund Plus through the planned commercial launch of factory-built autonomous trucks in 2027.
The transaction is expected to close in the fourth quarter of 2025, subject to satisfaction of customary closing conditions, including approval by Churchill IX shareholders and Plus shareholders.
The Willkie team is led by partners Gregory Astrachan, Sean Ewen and Esther Chang.
