Ocean Tomo financial, technical, and intellectual property experts joined by J.S. Held securities expert to advise Churchill Capital Corp IX
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.
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.
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."
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 Plus Automation's autonomous trucks. The combined company will operate as PlusAI, and the transaction is anticipated to close in the fourth quarter of 2025.
To learn more about how Ocean Tomo supports companies during mergers and acquisitions, visit: https://oceantomo.com/services/mergers-and-acquisitions/.
About J.S. Held
J.S. Held is a global consulting firm that combines technical, scientific, financial, and strategic expertise to advise clients seeking to realize value and mitigate risk. Our professionals serve as trusted advisors to organizations facing high stakes matters demanding urgent attention, staunch integrity, proven experience, clear-cut analysis, and an understanding of both tangible and intangible assets. The firm provides a comprehensive suite of services, products, and data that enable clients to navigate complex, contentious, and often catastrophic situations.
More than 1,500 professionals serve organizations across six continents, including 84% of the Global 200 Law Firms, 75% of the Forbes Top 20 Insurance Companies (90% of the NAIC Top 50 Property & Casualty Insurers), and 71% of Fortune 100 Companies.
Verdantix, in their Green Quadrant: Enterprise Risk Management Consulting Services (2025) report, benchmarks 15 of the most prominent enterprise risk management (ERM) advisors, identifying global consulting firm J.S. Held among the leading companies based on capabilities and momentum
J.S. Held, its affiliates and subsidiaries are not certified public accounting firm(s) and do not provide audit, attest, or any other public accounting services. J.S. Held is not a law firm and does not provide legal advice. Securities offered through PM Securities, LLC, d/b/a Phoenix IB or Ocean Tomo Investments, a part of J.S. Held, member FINRA/SIPC. All rights reserved.
Media Contact
Kristi L Stathis, J.S. Held, +1 786 833 4864, [email protected], JSHeld.com
SOURCE J.S. Held
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