As filed with the United States Securities and Exchange Commission on November 18, 2025. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________ FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 __________________________ Churchill Capital Corp XI (Exact Name of Registrant as Specified in its Charter) __________________________ | Cayman Islands | 6770 | 86-1959629 | | --- | --- | --- | | (State or Other Jurisdiction of | (Primar ...