Magnetar Financial LLC and related entities filed Amendment No. 1 to Schedule 13G on 08/08/2025 for Churchill Capital Corp IX (CCIXU). As of 06/30/2025 the group beneficially owned 1,982,756 Class A ordinary shares (CUSIP G21301109), representing 6.72 % of the 29.475 million shares outstanding. The holdings are spread across seven Magnetar funds, led by Constellation Master Fund (520,194 shares), Lake Credit Fund (380,144) and Structured Credit Fund (360,129).
The reporting persons—Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC and individual manager David J. Snyderman—claim shared voting and dispositive power over all shares; they report 0 sole voting/dispositive power. The filing is made pursuant to Rule 13d-1(b)/(c)/(d), signalling a passive ownership position. Certifications confirm the stake was acquired in the ordinary course of business and not to influence control of the issuer.
Positive
Institutional involvement: Magnetar funds now own 6.72 % of CCIXU, adding a notable hedge-fund shareholder to the register, potentially enhancing liquidity and visibility.
Negative
None.
Insights
TL;DR: Magnetar passive stake of 6.7 % signals institutional interest but no control intent; limited governance impact.
The 13G/A shows Magnetar’s funds collectively crossing the 5 % threshold, now holding 1.98 m shares of CCIXU. Because the filing is on a 13G (not 13D) and certifies ordinary-course acquisition, the stake is passive; investors should not expect activism or immediate strategic change. Still, a multi-strategy hedge fund allocating capital can improve market liquidity and may be interpreted as a vote of confidence in the SPAC’s prospects. All voting/dispositive powers are shared, suggesting internal coordination rather than unilateral action. Overall market impact is modest; ownership remains below levels that could materially sway shareholder votes.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Churchill Capital Corp IX
(Name of Issuer)
Class A ordinary shares, par value $0.0001
(Title of Class of Securities)
G21301109
(CUSIP Number)
06/30/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
G21301109
1
Names of Reporting Persons
MAGNETAR FINANCIAL LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,982,756.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,982,756.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,982,756.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.72 %
12
Type of Reporting Person (See Instructions)
IA, OO
SCHEDULE 13G
CUSIP No.
G21301109
1
Names of Reporting Persons
MAGNETAR CAPITAL PARTNERS LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,982,756.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,982,756.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,982,756.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.72 %
12
Type of Reporting Person (See Instructions)
HC, PN
SCHEDULE 13G
CUSIP No.
G21301109
1
Names of Reporting Persons
SUPERNOVA MANAGEMENT LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,982,756.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,982,756.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,982,756.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.72 %
12
Type of Reporting Person (See Instructions)
HC, OO
SCHEDULE 13G
CUSIP No.
G21301109
1
Names of Reporting Persons
DAVID J. SNYDERMAN
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,982,756.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,982,756.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,982,756.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.72 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Churchill Capital Corp IX
(b)
Address of issuer's principal executive offices:
640 FIFTH AVENUE, 14TH FLOOR New York, NY, 10019
Item 2.
(a)
Name of person filing:
This statement is filed on behalf of each of the following person (collectively, the "Reporting Persons"):
i) Magnetar Financial LLC ("Magnetar Financial");
ii) Magnetar Capital Partners LP (Magnetar Capital Partners");
iii) Supernova Management LLC ("Supernova Management"); and
iv) David J. Snyderman ("Mr. Snyderman").
This statement relates to the Shares (as defined herein) held for Magnetar Constellation Master Fund, Ltd ("Constellation Master Fund"), Magnetar Xing He Master Fund Ltd ("Xing He Master Fund"), Magnetar SC Fund Ltd ("SC Fund"), Magnetar Capital Master Fund Ltd ("Capital Master Fund"), all Cayman Islands exempted companies; Magnetar Structured Credit Fund, LP ("Structured Credit Fund") a Delaware limited partnership; Magnetar Alpha Star Fund LLC ("Alpha Star Fund"), Magnetar Lake Credit Fund LLC ("Lake Credit Fund"), all Delaware limited liability companies; collectively (the "Magnetar Funds"). Magnetar Financial serves as the investment adviser to the Magnetar Funds, and as such, Magnetar Financial exercises voting and investment power over the Shares held for the Magnetar Funds' accounts. Magnetar Capital Partners serves as the sole member and parent holding company of Magnetar Financial. Supernova Management is the general partner of Magnetar Capital Partners. The manager of Supernova Management is Mr. Snyderman.
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of each of Magnetar Financial, Magnetar Capital Partners, Supernova Management, and Mr. Snyderman is 1603 Orrington Avenue, 13th Floor, Evanston, Illinois 60201.
(c)
Citizenship:
Place of Organization.
i) Magnetar Financial is a Delaware limited liability company;
ii) Magnetar Capital Partners is a Delaware limited partnership;
iii) Supernova Management is a Delaware limited liability company; and
iv) Mr. Snyderman is a citizen of the United States of America.
(d)
Title of class of securities:
Class A ordinary shares, par value $0.0001
(e)
CUSIP No.:
G21301109
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
As of June 30, 2025, each of Magnetar Financial, Magnetar Capital Partners, Supernova Management and Mr. Snyderman held 1,982,756 Shares. The amount consists of (A) 520,194 Shares held for the account of Constellation Master Fund; (B) 380,144 Shares held for the account of Lake Credit Fund; (C) 360,129 Shares held for the account of Structured Credit Fund; (D) 320,124 Shares held for the account of Xing He Master Fund; (E) 222,109 Shares held for the account of Alpha Star Fund; (F) 20,003 Shares held for the account of Capital Master Fund; and (H) 160,053 Shares held for the account SC Fund.
The Shares held by the Magnetar Funds represent approximately 6.72% of the total number of Shares outstanding (calculated pursuant to Rule 13d-3(d)(1)(i)) of the outstanding shares of the Issuer).
(b)
Percent of class:
As of June 30, 2025, each of the Reporting Persons were deemed to be the beneficial owner constituting approximately 6.72% of the total number of shares outstanding (based upon the information provided by the Issuer in its Form 10-Q filed with the SEC on May 13, 2025, there were approximately 29,475,000 Shares outstanding).
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
1,982,756
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
1,982,756
Item 5.
Ownership of 5 Percent or Less of a Class.
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
MAGNETAR FINANCIAL LLC
Signature:
/s/ Hayley Stein
Name/Title:
Hayley Stein, Attorney-in-fact for David J. Snyderman, Manager of Supernova Management LLC
Date:
08/08/2025
MAGNETAR CAPITAL PARTNERS LP
Signature:
/s/ Hayley Stein
Name/Title:
Hayley Stein, Attorney-in-fact for David J. Snyderman, Manager of Supernova Management LLC
Date:
08/08/2025
SUPERNOVA MANAGEMENT LLC
Signature:
/s/ Hayley Stein
Name/Title:
Hayley Stein, Attorney-in-fact for David J. Snyderman, Manager of Supernova Management LLC
Date:
08/08/2025
DAVID J. SNYDERMAN
Signature:
/s/ Hayley Stein
Name/Title:
Hayley Stein, Attorney-in-fact for David J. Snyderman, Manager of Supernova Management LLC
Date:
08/08/2025
Comments accompanying signature: MAGNETAR FINANCIAL LLC BY: Magnetar Capital Partners LP, its Sole Member BY: Supernova Management LLC, its General Partner
MAGNETAR CAPITAL PARTNERS LP By: Supernova Management LLC, its General Partner
Exhibit Information
99.1 Joint Filing Agreement, dated as of August 8, 2025, among the Reporting Persons.
99.2 Power of Attorney, dated as of December 22, 2022 filed by the Reporting Persons on August 8, 2025.
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