Business
Ocean Tomo, a part of J.S. Held Appointed Financial and Technical Advisor to Churchill Capital Corp IX in Plus Automation Inc Business Combination
Global consulting firm J.S. Held announces that their Intellectual Property (IP) practice, Ocean Tomo, served as financial and technical advisor to Churchill Capital Corp IX, a special purpose acquisition company (SPAC), in its business combination with Plus Automation Inc., a Physical AI company specializing in AI-based virtual driver software for autonomous trucks.
About this update from Churchill Capital Corp Ix
[{"type":"text","content":"Ocean Tomo financial, technical, and intellectual property experts joined by J.S. Held securities expert to advise Churchill Capital Corp IX","length":140,"tagName":"p"},{"type":"text","content":"JERICHO, N.Y., Sept. 9, 2025 /PRNewswire-PRWeb/ -- Global consulting firm J.S. Held announces that their Intellectual Property (IP) practice, Ocean Tomo, served as financial and technical advisor to Churchill Capital Corp IX, a special purpose acquisition company (SPAC), in its business combination with Plus Automation Inc., a Physical AI company specializing in AI-based virtual driver software for autonomous trucks.","length":420,"tagName":"p"},{"type":"text","content":"Ocean Tomo's role as financial and technical advisor on this transaction involved a multi-disciplinary approach, which allowed Ocean Tomo to provide comprehensive advisory services to Churchill IX, including a valuation under multiple scenarios and a fairness opinion to the board of directors. The engagement began with a detailed assessment of Plus Automation's AI-based virtual driver software technology, focusing on its performance capabilities, safety features, regulatory requirements, and integration with trucking OEMs and value chains. This assessment also included benchmarking Plus Automation's technology against other autonomous driving solutions, trucking industry participants, and emerging competitors in the Physical AI space. Ocean Tomo's team included complex securities experts from J.S. Held who conducted Black Scholes and Monte Carlo analyses to value various contingent claims and assess their impact on the ultimate fairness of the transaction to the shareholders of Churchill IX.","length":1023,"tagName":"p"},{"type":"text","content":"Senior Managing Director, Gregory Campanella, commenting on the engagement observes, "The Plus Automation transaction is a clear demonstration of Ocean Tomo, a part of J.S. Held's multi-disciplinary approach to client engagements, combining financial, technical, and intellectual property expertise to provide best-in-class technical and financial advisory services."","length":381,"tagName":"p"},{"type":"text","content":"The transaction valued Plus Automation at a pre-money equity value of $1.2 billion and is expected to provide up to $300 million in gross proceeds to support the commercial launch of...