MMCAP International Inc. SPC - 18 Dec 2025 SCHEDULE 13G Report for Churchill Capital Corp XI Class A Ordinary Shares

Filing Manager: MMCAP International Inc. SPC
Reporting Manager: MMCAP International Inc. SPC
Security: Churchill Capital Corp XI Class A Ordinary Shares
Shares outstanding: 46.6M shares
Disclosed Ownership: 2.7M shares
Ownership: 5.8%
Form type: SCHEDULE 13G
Filing time: 19 Dec 2025, 14:45:33 UTC
Date of event: 18 Dec 2025
SEC: View on sec.gov

Reporting Managers (2)

Name	Ownership	Shares Owned	sole voting power	shared voting power	Signature	Title	CIK
MMCAP International Inc. SPC	5.8%	2.7M	0	2.7M	Ulla Vestergaard	Director
MM Asset Management Inc.	5.8%	2.7M	0	2.7M	Hillel Meltz	President