Gores Holdings X, Inc. / CI

Current report

For the nine months ended September 30, 2026, the Company had net income of $9,424,632, of which $3,229,200 was a non-cash gain related to the change in fair value of the warrant liability and the remainder was interest income less expenses associated with normal operations.

Current report

For the nine months ended September 30, 2025, the Company had net income of $51,703, of which ($5,292,300) was a non-cash loss related to the change in fair value of the warrant liability and the remainder was interest income less expenses associated with normal operations.

Current report

As of September 30, 2026, $377,503,360 was held in the Trust Account for the purposes of consummating our Business Combination.

Current report

In connection with an assessment of going concern considerations in accordance with FASB ASC Topic 205-40, “Presentation of Financial Statements - Going Concern,” the Company has until May 5, 2027 (or August 5, 2027 if the Company has executed a definitive agreement for an initial Business Combination by May 5, 2027) or until such earlier liquidation date as the Company’s board of directors may approve, to consummate the Company’s initial business combination. It is uncertain that the Company will be able to consummate a Business Combination by this time. If the Company does not complete its Business Combination in that time, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the ordinary shares sold as part of the units in the Public Offering, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall be net of franchise and income taxes payable and less up to $100,000 of such net interest which may be distributed to the Company to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s Board of Directors, dissolve and liquidate, subject in each case to the Company’s obligations.

Current report

In addition, at September 30, 2026 and December 31, 2025, the Company had current liabilities of $5,551,756 and $2,686,141, respectively, and working capital deficit of ($5,276,577) and ($1,710,832), respectively. Other amounts are related to accrued expenses owed to professionals, consultants, advisors and others who are working on seeking a Business Combination. Such work is continuing after September 30, 2026 and amounts are continuing to accrue. Up to $600,000 per year (plus the rollover of unused amounts from prior years) of interest earned on the funds held in the trust account that may be released to the Company to fund working capital requirements (provided that, only $150,000, plus the rollover of unused amounts from prior years, of interest earned on the funds held in the trust account may be released to the Company during the three month period that will begin 24 months from the closing of the IPO if the Company executed a definitive agreement for an initial Business Combination within 24 months from the closing of the IPO), plus additional amounts of interest earned on the funds held in the trust account that may be released to the Company to pay its tax obligations (which shall exclude the 1% U.S. federal excise tax that was implemented by the Inflation Reduction Act of 2022 if any is imposed on the

Current report

Company and which shall not be subject to the $600,000 12-month limitation (or $150,000 limitation) described above) ("Regulatory Withdrawal"). In order to finance ongoing operating costs, the Sponsor or an affiliate of the Sponsor will provide the Company with additional working capital via a Sponsor Loan.

Current report

In the event of such distribution, it is possible that the per-share value of the residual assets remaining available for distribution (including Trust Account assets) will be less than the initial public offering price per unit in the Public Offering. In addition, if the Company fails to complete its Business Combination by May 5, 2027, there will be no redemption rights or liquidating distributions with respect to the warrants, which will expire worthless. No adjustments have been made to the carrying amounts of assets or liabilities should we be required to liquidate after May 5, 2027.

Current report

Management has determined that the amount of time remaining to finalize a Business Combination that would result in a mandatory liquidation, should a Business Combination not occur, and potential subsequent dissolution raises substantial doubt about its ability to continue as a going concern.

Previous report

For the three months ended June 30, 2025, the Company had a net loss of ($1,737,874), of which ($3,767,400) was a non-cash loss related to the change in fair value of the warrant liability and the remainder are expenses associated with normal operations.

Previous report

For the six months ended June 30, 2025, the Company had a net loss of ($1,791,913), of which ($3,767,400) was a non-cash loss related to the change in fair value of the warrant liability and the remainder are expenses associated with normal operations.