Setback
PlusAI and Churchill Capital Corp IX ended their merger deal, citing market conditions, days before shareholders were due to vote.
A delay, pause or setback
What the source says
“PlusAI and Churchill Capital Corp IX have mutually agreed to terminate a merger agreement citing market conditions”
What it means
PlusAI SuperDrive, from PlusAI (Plus), is at stage 3 of 5 on our ladder: pilot. A setback stays on the record next to the milestones; the stage moves down only when the rules say so.
Human help: The maker hasn't said whether people help it remotely.
More on PlusAI SuperDrive
- PlusAI announced a new deal to go public, this time by merging with Texas Ventures Acquisition III Corp.
- PlusAI was running a self-driving truck trial in Texas with International and Ryder.
- Plus agreed to go public by merging with Churchill Capital Corp IX, a shell company listed on the stock market, at a $1.2 billion value.
- Plus and the investment company Hennessy Capital called off a deal to take Plus public at a $3.3 billion value, citing rules outside the US.