IX Acquisition Corp. Files 8-K: Agreements, Obligations, and Officer Changes
Ticker: IXQWF · Form: 8-K · Filed: Sep 23, 2024 · CIK: 1852019
Sentiment: neutral
Topics: material-agreement, financial-obligation, equity-securities, officer-changes
Related Tickers: IXAC
TL;DR
IXAC just dropped an 8-K detailing new deals, debt, stock sales, and exec changes. Big moves happening.
AI Summary
IX Acquisition Corp. announced on September 20, 2024, the entry into a material definitive agreement and the creation of a direct financial obligation. The company also reported on unregistered sales of equity securities and changes in its board and officer composition, including compensatory arrangements. This filing details significant corporate actions and financial commitments.
Why It Matters
This 8-K filing indicates significant corporate actions by IX Acquisition Corp., including new financial obligations and potential equity issuances, which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — The filing involves material definitive agreements, financial obligations, and unregistered sales of equity, which can introduce financial and operational risks.
Key Players & Entities
- IX Acquisition Corp. (company) — Registrant
- September 20, 2024 (date) — Date of earliest event reported
FAQ
What type of material definitive agreement did IX Acquisition Corp. enter into?
The filing indicates the entry into a material definitive agreement, but the specific details of the agreement are not provided in the provided text.
What is the nature of the direct financial obligation or off-balance sheet arrangement?
The filing states the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specifics are not detailed in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on September 20, 2024.
What other items are reported in this 8-K filing besides the material agreement and financial obligation?
The filing also reports on unregistered sales of equity securities and changes related to directors and officers, including compensatory arrangements.
What is the standard industrial classification for IX Acquisition Corp.?
The standard industrial classification for IX Acquisition Corp. is COMMUNICATION SERVICES, NEC [4899].
Filing Stats: 1,104 words · 4 min read · ~4 pages · Grade level 13 · Accepted 2024-09-23 17:25:38
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
- $4,500,000 — the aggregate principal amount to up to $4,500,000 (as amended and restated, the " Note ")
- $1,500,000 — the Sponsor, up to a maximum amount of $1,500,000 of the unpaid principal balance under t
- $1.00 — Conversion Warrants ") at the price of $1.00 per warrant. Such Conversion Warrants w
Filing Documents
- tm2422859d1_8k.htm (8-K) — 44KB
- tm2422859d1_ex10-1.htm (EX-10.1) — 26KB
- 0001104659-24-102121.txt ( ) — 299KB
- ixaqu-20240920.xsd (EX-101.SCH) — 4KB
- ixaqu-20240920_def.xml (EX-101.DEF) — 27KB
- ixaqu-20240920_lab.xml (EX-101.LAB) — 36KB
- ixaqu-20240920_pre.xml (EX-101.PRE) — 25KB
- tm2422859d1_8k_htm.xml (XML) — 6KB
02. Departure of Directors or Certain
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On September 23, 2024, the following directors and officers notified the board of directors (the " Board ") of the Company of their intention to resign as directors and/or officer of the Company, effective upon both of the Board's acceptance of such resignations and the shareholders' approval of the Company's third extension of the deadline to consummate its business combination. The shareholders meeting is scheduled to be held on or before October 12, 2024, the 36-month anniversary of the Company's initial public offering. Name Position Guy Willner Executive Chairman and Director Karen Bach Chief Executive Officer and Director Teresa Barger Independent Director, Member of Audit Committee and Compensation Committee Andrew Bartley Independent Director, Chair of Audit Committee and Member of Compensation Committee The resignations were not the result of any dispute or disagreement with the Company or the Company's Board on any matter relating to the operations, policies or practices of the Company. On September 23, 2024, the Board accepted such resignations. Upon the submission of Karen Bach's resignation as the Chief Executive Officer, the Board appointed Noah Aptekar, the Company's Chief Financial Officer, Chief Operations Officer and director, as the Company's Chief Executive Officer, effective upon the effectiveness of resignation of Karen Bach . Upon the submission of Andrew Bartley's resignation as an independent director, chair of audit committee and member of compensation committee, the Board appointed Eduardo Marini, an independent director, as the Company's chair of audit committee and member of compensation committee, effective upon the effectiveness of resignation of Andrew Bartley. Upon the effectiveness of the above mentioned resignations and appointment, the remaining offi
01. Financial Statements
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Third Amended and Restated Convertible Promissory Note, dated September 20, 2024, issued to IX Acquisition Sponsor LLC. 104 Cover Page Interactive Data File (embedded within 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: September 23, 2024 By: /s/ Noah Aptekar Name: Noah Aptekar Title: Chief Financial Officer