IX Acquisition Corp. Files 10-Q/A

TL;DR

IXAC filed an amended 10-Q for Q2 2024. Check financials.

AI Summary

IX Acquisition Corp. filed a 10-Q/A on August 20, 2024, for the period ending June 30, 2024. The filing pertains to their financial reporting and includes details on their business address in London and mail address in Newark, Delaware. Specific financial figures and operational details are not detailed in the provided header information.

Why It Matters

This amended filing provides updated financial information for IX Acquisition Corp., crucial for investors to assess the company's performance and financial health.

Risk Assessment

Risk Level: low — The filing is a routine amendment to a quarterly report and does not appear to contain significant negative news.

Key Numbers

• 20240630 — Period End Date (Financial reporting period)
• 20240820 — Filing Date (Date the amended report was submitted)

Key Players & Entities

• IX Acquisition Corp. (company) — Filer
• 0001410578-24-001534 (filing_id) — Accession Number
• 20240820 (date) — Filing Date
• 20240630 (date) — Period of Report
• London (location) — Business Address City
• Newark, Delaware (location) — Mail Address

FAQ

Key Financial Figures

• $0.0001 — LC Class A Ordinary Shares, par value $0.0001 per share IXAQA The Nasdaq Stock Ma
• $11.50 — able for one Class A Ordinary Share for $11.50 per share IXAQW The Nasdaq Stock Ma

Filing Documents

• ixaqu-20240630x10qa.htm (10-Q/A) — 1162KB
• ixaqu-20240630xex31d1.htm (EX-31.1) — 13KB
• ixaqu-20240630xex31d2.htm (EX-31.2) — 13KB
• ixaqu-20240630xex32d1.htm (EX-32.1) — 6KB
• ixaqu-20240630xex32d2.htm (EX-32.2) — 6KB
• 0001410578-24-001534.txt ( ) — 6034KB
• ixaqu-20240630.xsd (EX-101.SCH) — 65KB
• ixaqu-20240630_cal.xml (EX-101.CAL) — 23KB
• ixaqu-20240630_def.xml (EX-101.DEF) — 257KB
• ixaqu-20240630_lab.xml (EX-101.LAB) — 422KB
• ixaqu-20240630_pre.xml (EX-101.PRE) — 352KB
• ixaqu-20240630x10qa_htm.xml (XML) — 912KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements. 1 Condensed Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 1 Unaudited Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 2 Unaudited Condensed Consolidated Statements of Changes in Shareholders' Deficit for the Three and Six Months Ended June 30, 2024 and 2023 3 Unaudited Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 4 Notes to Unaudited Condensed Consolidated Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 27 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 36 Item 4.

Controls and Procedures

Controls and Procedures. 37

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1. Legal Proceedings. 38 Item 1A. Risk Factors. 38 Item 2. Unregistered Sales of Equity Securities , Use of Proceeds and Issuer Purchases of Equity Securities. 40 Item 3. Defaults Upon Senior Securities. 40 Item 4. Mine Safety Disclosures. 40 Item 5. Other Information. 40 Item 6. Exhibits. 41

SIGNATURES

SIGNATURES i Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. IX ACQUISITION CORP. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, December 31, 2024 2023 (Unaudited) Assets Current assets: Cash $ 7,655 $ 24,278 Prepaid expenses 41,505 30,030 Due from related party 4,380 — Total current assets 53,540 54,308 Non-current assets: Cash held in the Trust Account 32,430,440 31,440,528 Total Assets $ 32,483,980 $ 31,494,836 Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders' Deficit: Current liabilities: Accounts payable $ 116,281 $ — Accrued expenses 1,836,656 1,256,667 Extension Promissory Note 3,103,268 1,889,768 Total current liabilities 5,056,205 3,146,435 Non-current liabilities: Derivative warrant liabilities 1,492,000 373,000 Deferred underwriting fee payable 6,050,000 6,050,000 Total non-current liabilities 7,542,000 6,423,000 Total Liabilities 12,598,205 9,569,435 Commitments and Contingencies (Note 6) Class A ordinary shares subject to possible redemption, $ 0.0001 par value, at approximately $ 11.39 and $ 11.05 per share, respectively; 2,846,071 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 32,430,440 31,440,528 Shareholders' Deficit: Preference shares, $ 0.0001 par value; 1,000,000 shares authorized; none issued and outstanding — — Class A ordinary shares, $ 0.0001 par value; 200,000,000 shares authorized; 4,002,121 non-redeemable shares issued or outstanding as of June 30, 2024 and December 31, 2023, respectively 401 401 Class B ordinary shares, $ 0.0001 par value; 20,000,000 shares authorized; 1,747,879 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 174 174 Additional paid-in capital 776,644 1,766,556 Accumulated deficit ( 13,321,884 ) ( 11,282,258 ) Total shareholders' deficit ( 12,544,665 ) ( 9,515,127 ) Total Liabilities, Class A Ordinary S

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View this 10-Q/A filing on SEC EDGAR