IX Acquisition Corp. Files 8-K for Material Agreement

TL;DR

IXAC filed an 8-K for a new material agreement on 5/13. Big news coming?

AI Summary

IX Acquisition Corp. filed an 8-K on May 17, 2024, reporting a material definitive agreement entered into on May 13, 2024. The filing also includes financial statements and exhibits. The company is incorporated in the Cayman Islands and its principal executive offices are located in the United Kingdom.

Why It Matters

This filing indicates a significant business development for IX Acquisition Corp., potentially involving a merger, acquisition, or other material contract that could impact its future operations and stock value.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce significant business risks and opportunities, making the outcome uncertain until further details are disclosed.

Key Players & Entities

• IX Acquisition Corp. (company) — Registrant
• May 13, 2024 (date) — Date of earliest event reported
• May 17, 2024 (date) — Date of report
• Cayman Islands (jurisdiction) — State or other jurisdiction of incorporation
• United Kingdom (location) — Address of principal executive offices

FAQ

Key Financial Figures

• $0.0001 — ng of Class A ordinary share, par value $0.0001 per share, and one-half of one redeemab
• $11.50 — ary share, each at an exercise price of $11.50 per share IXAQW The Nasdaq Stock Ma
• $15,000,000 — in an aggregate amount of not less than $15,000,000 (exercising reasonable best efforts to
• $5,000,000 — ising reasonable best efforts to secure $5,000,000 within twenty (20) Business Days of the
• $2 million — . As of May 13, 2024, an aggregate of $2 million of SAFE Investment has been made. The S

Filing Documents

• tm2414785d1_8k.htm (8-K) — 43KB
• tm2414785d1_ex10-1.htm (EX-10.1) — 64KB
• 0001104659-24-062983.txt ( ) — 347KB
• ixaqu-20240513.xsd (EX-101.SCH) — 4KB
• ixaqu-20240513_def.xml (EX-101.DEF) — 27KB
• ixaqu-20240513_lab.xml (EX-101.LAB) — 36KB
• ixaqu-20240513_pre.xml (EX-101.PRE) — 25KB
• tm2414785d1_8k_htm.xml (XML) — 6KB

01

Item 1.01. Entry into a Material Definitive Agreement. The Simple Agreement for Future Equity On March 29, 2024, IX Acquisition Corp. ( Parent ), a Cayman Islands exempted company, entered into a Merger Agreement, by and among Parent, AKOM Merger Sub Inc., a Nevada corporation and a wholly owned subsidiary of Parent (" Merger Sub "), and AERKOMM Inc., a Nevada corporation (the " Company ") (as it may be amended and/or restated from time to time, the " Merger Agreement "). Capitalized terms used in this Current Report on Form 8-K but not otherwise defined herein have the meanings given to them in the Merger Agreement. Pursuant to the Merger Agreement, the Company was obligated to enter into simple agreements for future equity (the " SAFE Agreements ") with certain investors providing for investments in shares of the Company's Common Stock in a private placement in an aggregate amount of not less than $15,000,000 (exercising reasonable best efforts to secure $5,000,000 within twenty (20) Business Days of the date of the Merger Agreement, another $5,000,000 within forty (40) Business Days of the date of the Merger Agreement, and another $5,000,000 within sixty (60) Business Days of the date of the Merger Agreement) that will automatically convert upon the Closing at $11.50 per share of the Parent's Common Stock and in accordance with such SAFE Agreements and the Merger Agreement (such investments in the aggregate, the " SAFE Investment "). As of May 13, 2024, an aggregate of $2 million of SAFE Investment has been made. The SAFE Investment will initially be placed in an escrow account and may be released from such escrow account to an account of the Company pursuant to the joint written instructions of the Company and the Parent.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Form of Simple Agreement for Future Equity 104 Cover Page Interactive Data File (embedded with the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. IX Acquisition Corp. Dated: May 17, 2024 By: /s/ Noah Aptekar Name: Noah Aptekar Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR