Empyrean reports 7.52% stake in Churchill Capital XI

Empyrean Capital Partners, LP and Amos Meron report passive beneficial ownership of Class A Ordinary Shares of Churchill Capital Corp XI.

Rhea-AI Filing Summary

Empyrean Capital Partners, LP and Amos Meron report passive beneficial ownership of Class A Ordinary Shares of Churchill Capital Corp XI. Through Empyrean Capital Overseas Master Fund, Ltd., they collectively report beneficial ownership of 3,150,000 Class A Ordinary Shares, representing 7.52% of the class.

The reporting persons have shared voting and dispositive power over all 3,150,000 shares and no sole voting or dispositive power. The ownership percentage is based on 41,900,000 Class A Ordinary Shares outstanding as of May 13, 2026, as referenced from the company’s Form 10-Q.

Key Figures

Beneficial ownership: 3,150,000 Class A Ordinary Shares Percent of class: 7.52% Shares outstanding: 41,900,000 Class A Ordinary Shares +2 more

5 metrics

Beneficial ownership 3,150,000 Class A Ordinary Shares Shares beneficially owned by the reporting persons

Percent of class 7.52% Portion of Class A Ordinary Shares beneficially owned

Shares outstanding 41,900,000 Class A Ordinary Shares Outstanding as of May 13, 2026, per Form 10-Q

Shared voting power 3,150,000 Class A Ordinary Shares Shares over which reporting persons share voting power

Shared dispositive power 3,150,000 Class A Ordinary Shares Shares over which reporting persons share dispositive power

Key Terms

beneficially owned, shared voting power, dispositive power, Schedule 13G

4 terms

beneficially owned financial

"Amount beneficially owned: 3,150,000"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared voting power financial

"Shared power to vote or to direct the vote: 3,150,000"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

dispositive power financial

"Shared power to dispose or to direct the disposition of: 3,150,000"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

Schedule 13G regulatory

"The percentages used in this are calculated based upon 41,900,000"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake in Churchill Capital Corp XI (CCXI) is reported in this Schedule 13G?

The filing reports beneficial ownership of 3,150,000 Class A Ordinary Shares of Churchill Capital Corp XI, representing 7.52% of the outstanding Class A Ordinary Shares, based on 41,900,000 shares outstanding as of May 13, 2026.

Who are the reporting persons in this Churchill Capital Corp XI (CCXI) Schedule 13G?

The reporting persons are Empyrean Capital Partners, LP, a Delaware limited partnership investment manager, and Amos Meron, who serves as managing member of Empyrean Capital, LLC, the general partner of Empyrean Capital Partners, LP.

How many Churchill Capital Corp XI (CCXI) shares does Empyrean report voting power over?

The reporting persons have shared voting power over 3,150,000 Class A Ordinary Shares and no sole voting power. They also report the same 3,150,000 shares as subject to shared dispositive power.

What percentage of Churchill Capital Corp XI (CCXI) does 3,150,000 shares represent?

The 3,150,000 Class A Ordinary Shares represent 7.52% of the Class A Ordinary Shares of Churchill Capital Corp XI, calculated using 41,900,000 shares outstanding as of May 13, 2026, as referenced from a Form 10-Q.

Where are the reporting persons for Churchill Capital Corp XI (CCXI) based?

The business address for both reporting persons is 10250 Constellation Boulevard, Suite 2950, Los Angeles, CA 90067. Empyrean Capital Partners, LP is organized in Delaware, and Amos Meron is a citizen of the United States.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/14/2026 - 04:01 PM Accepted by SEC EDGAR 08/14/2026 - 04:00 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Churchill Capital Corp. XI

(Name of Issuer)

Class A Ordinary Shares, par value $0.0001 per share

(Title of Class of Securities)

G2131A108

(CUSIP Number)

06/30/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G2131A108

1

Names of Reporting Persons

Empyrean 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 3,150,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,150,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,150,000.00

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)

7.52 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP Number(s): G2131A108

1

Names of Reporting Persons

Meron Amos

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 3,150,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,150,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,150,000.00

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)

7.52 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Churchill Capital Corp. XI
(b)	Address of issuer's principal executive offices: 640 Fifth Avenue, 14th Floor, New York, New York, 10019
Item 2.
(a)	Name of person filing: This statement is filed by: (i) Empyrean Capital Partners, LP ("ECP"), a Delaware limited partnership, which serves as investment manager to Empyrean Capital Overseas Master Fund, Ltd. ("ECOMF"), a Cayman Islands exempted company, with respect to the Class A ordinary shares, par value $0.0001 per share (the "Class A Ordinary Shares") of Churchill Capital Corp XI (the "Company") directly held by ECOMF; (ii) Mr. Amos Meron, who serves as the managing member of Empyrean Capital, LLC, the general partner of ECP, with respect to the Class A Ordinary Shares directly held by ECOMF. The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. The foregoing should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of Class A Ordinary Shares owned by another Reporting Person.
(b)	Address or principal business office or, if none, residence: The address of the business office of each of the Reporting Persons is c/o Empyrean Capital Partners, L.P., 10250 Constellation Boulevard, Suite 2950, Los Angeles, CA 90067
(c)	Citizenship: ECP - a Delaware limited partnership Amos Meron - United States
(d)	Title of class of securities: Class A Ordinary Shares, par value $0.0001 per share
(e)	CUSIP Number(s): G2131A108
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: 3,150,000
(b)	Percent of class: 7.52 %
(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: 3,150,000
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 3,150,000 The percentages used in this Schedule 13G are calculated based upon 41,900,000 Class A Ordinary Shares outstanding as of May 13, 2026, as reported in the Company's Report on Form 10-Q for the period ended March 31, 2026, filed with the Securities and Exchange Commission on May 15, 2026.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Item 2(a).
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.

Empyrean Capital Partners, LP

Signature:	/s/ Jennifer Norman
Name/Title:	Chief Compliance Officer
Date:	08/14/2026

Meron Amos

Signature:	/s/ Amos Meron
Name/Title:	Amos Meron
Date:	08/14/2026

Exhibit Information

Exhibit 99.1 Joint Filing Agreement