{"url_path":"/sec/ccxi/8-k/2026-07-06/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry into a Material Definitive Agreement**","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-06","source_url":"https://www.sec.gov/Archives/edgar/data/2074973/0001213900-26-075480-index.html","accession_number":"0001213900-26-075480","cik":"0002074973","ticker":"CCXI","issuer_name":"Churchill Capital Corp XI","edgar_url":"https://www.sec.gov/Archives/edgar/data/2074973/0001213900-26-075480-index.html","primary_entity_key":"0002074973","primary_entity_name":"Churchill Capital Corp XI"},"word_count":240,"has_tables":true,"body_markdown":"** **\n\n**Item 1.01 Entry into a Material Definitive Agreement**\n\n \n\nOn July 2, 2026, Churchill Capital Corp XI (the\n“**Company**”) issued an unsecured promissory note (the “**Note**”) in the aggregate principal amount of\nup to $1,500,000 to Churchill Sponsor XI LLC (the “**Sponsor**”), the Company’s sponsor, for the Company’s\nworking capital needs. The Note does not bear interest and matures upon the earlier of the closing of an initial business combination\nby the Company and the Company’s liquidation.\n\n \n\nAmounts outstanding under the Note are convertible,\nat the option of the Sponsor, into units of the Company (the “**Conversion Units**”), at a conversion price of $10.00 per\nConversion Unit, with each unit consisting of one share of the Company’s Class A ordinary share, par value $0.0001 per share (“**Class\nA Ordinary Share**”), and one-tenth of one warrant, with each whole warrant exercisable for one Class A Ordinary Share at $11.50\nper share, subject to adjustment as provided in the Company’s Registration Statement on Form S-1 filed in connection with its initial\npublic offering (“**IPO**”). The Conversion Units will be identical to the private placement units issued to\nthe Sponsor at the time of the Company’s IPO. The Conversion Units are entitled to registration rights.\n\n \n\nThe foregoing description of the Note is qualified\nin its entirety by reference to the full text of the Note, which is filed with this Current Report on Form 8-K as Exhibit 10.1 and is\nincorporated herein by reference."}