Magnetar Financial Exits IX Acquisition Corp. Position

TL;DR

**Magnetar Financial just dumped all its IX Acquisition Corp. shares, signaling a complete exit.**

AI Summary

Magnetar Financial LLC, a Delaware-based investment firm, has filed an exit amendment to its Schedule 13G, indicating it no longer holds a reportable ownership stake in IX Acquisition Corp. as of December 31, 2023. This filing, dated January 26, 2024, shows Magnetar now has 0 sole voting power and 0 shared voting power, effectively exiting its position in the SPAC. This matters to investors because a significant institutional holder has fully divested, which could signal a lack of confidence or a strategic portfolio reallocation, potentially impacting the stock's liquidity and investor sentiment.

Why It Matters

This exit filing means a major institutional investor, Magnetar Financial LLC, has sold all its shares in IX Acquisition Corp., potentially signaling a lack of future growth prospects or a shift in investment strategy. This could reduce demand for the stock and impact its price.

Risk Assessment

Risk Level: medium — The exit of a significant institutional investor like Magnetar Financial LLC could lead to decreased investor confidence and potential downward pressure on the stock price.

Analyst Insight

A smart investor would monitor IX Acquisition Corp.'s stock price and trading volume closely for any negative reactions to Magnetar Financial LLC's complete divestment, and consider if this exit signals underlying issues or simply a portfolio rebalancing by Magnetar.

Key Numbers

• 0 — Sole Voting Power (Magnetar Financial LLC's current sole voting power in IX Acquisition Corp.)
• 0 — Shared Voting Power (Magnetar Financial LLC's current shared voting power in IX Acquisition Corp.)

Key Players & Entities

• Magnetar Financial LLC (company) — the reporting person exiting its position
• IX Acquisition Corp. (company) — the subject company in which Magnetar Financial LLC previously held shares
• Delaware (company) — place of organization for Magnetar Financial LLC
• December 31, 2023 (date) — date of event requiring the filing
• January 26, 2024 (date) — filing date of the SC 13G/A amendment

Forward-Looking Statements

• IX Acquisition Corp. stock may experience increased volatility due to the institutional exit. (IX Acquisition Corp.) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in IX Acquisition Corp. following Magnetar's exit. (IX Acquisition Corp.) — low confidence, target: Q2 2024

FAQ

Filing Documents

• tm243910d12_sc13ga.htm (SC 13G/A) — 133KB
• tm243910d12_ex99-1.htm (EX-99.1) — 10KB
• tm243910d12_ex99-2.htm (EX-99.2) — 5KB
• 0001104659-24-007160.txt ( ) — 150KB

(a) Name of Issuer

Item 1(a) Name of Issuer. IX ACQUISITION CORP. (the “Issuer”)

(b) Address of Issuer’s Principal Executive Offices

Item 1(b) Address of Issuer’s Principal Executive Offices. Arch 124 53 Davies Street London, W1K 5JH United Kingdom

(a) Name of Person Filing

Item 2(a) Name of Person Filing. This statement is filed on behalf of each of the following person (collectively, the “Reporting Persons”): i) Magnetar Financial LLC (“Magnetar Financial”); ii) Magnetar Capital Partners LP (Magnetar Capital Partners”); iii) Supernova Management LLC (“Supernova Management”); and iv) David J. Snyderman (“Mr. Snyderman”). Magnetar Financial serves as the investment adviser to the Magnetar Funds, and as such, Magnetar Financial exercises voting and investment power over the Shares held for the Magnetar Funds’ accounts. Magnetar Capital Partners serves as the sole member and parent holding company of Magnetar Financial. Supernova Management is the general partner of Magnetar Capital Partners. The manager of Supernova Management is Mr. Snyderman.

(b) Address of Principal Business Office

Item 2(b) Address of Principal Business Office. The address of the principal business office of each of Magnetar Financial, Magnetar Capital Partners, Supernova Management, and Mr. Snyderman is 1603 Orrington Avenue, 13 th Floor, Evanston, Illinois 60201.

(c) Place of Organization

Item 2(c) Place of Organization. i) Magnetar Financial is a Delaware limited liability company; ii) Magnetar Capital Partners is a Delaware limited partnership; iii) Supernova Management is a Delaware limited liability company; and iv) Mr. Snyderman is a citizen of the United States of America.

(d) Title of Class of Securities

Item 2(d) Title of Class of Securities. Common Stock

(e) CUSIP Number

Item 2(e) CUSIP Number. G5000D103

Reporting Person

Item 3 Reporting Person. (e) An investment adviser in accordance with §240.13d–1(b)(1)(ii)(E) (g) A parent holding company or control person in accordance with §240.13d–1(b)(1)(ii)(G)

(a) Amount Beneficially Owned

Item 4(a) Amount Beneficially Owned: As of December 31, 2023, each of Magnetar Financial, Magnetar Capital Partners, Supernova Management and Mr. Snyderman held 0 Shares. The Shares held by the Magnetar Funds represent approximately 0.00% of the total number of Shares outstanding (calculated pursuant to Rule 13d-3(d)(1)(i)) of the outstanding shares of the Issuer).

(b) Percent of Class

Item 4(b) Percent of Class: (i) As of December 31, 2023, each of Reporting Persons were deemed to be the beneficial owner constituting approximately 0.00% of the total number of Shares outstanding (based upon the information provided by the Issuer in its Form 10-Q filed with the SEC on November 15, 2023, there were approximately 8,665,842 Shares outstanding as of November 15, 2023). Item 4(c) Number of Shares of which such person has: Magnetar Financial, Magnetar Capital Partners, Supernova Management, and Mr. Snyderman: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote : 0 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 0

Ownership of Five Percent or Less of a Class

Item 5 Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following .

Ownership of More Than Five Percent on Behalf of Another Person

Item 6 Ownership of More Than Five Percent on Behalf of Another Person. This Item 6 is not applicable. Item 7 Identification and Classification of the Subsidiary which Acquired the Security Being Reported On by the Parent Holding Company. This Item 7 is not applicable.

Identification and Classification of Members of the Group

Item 8 Identification and Classification of Members of the Group. This Item 8 is not applicable.

Notice of Dissolution of Group

Item 9 Notice of Dissolution of Group. This Item 9 is not applicable.

Certification

Item 10 Certification. By signing below the Reporting Persons certifies that, to the best of their knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: January 26, 2024 magnetar financial llc By: Magnetar Capital Partners LP, its Sole Member By: Supernova Management LLC, its General Partner By: /s/ Hayley A. Stein Name: Hayley A. Stein Title: Attorney-in-fact for David J. Snyderman, Manager of Supernova Management LLC Date: January 26, 2024 magnetar capital partners LP By: Supernova Management LLC, its General Partner By: /s/ Hayley A. Stein Name: Hayley A. Stein Title: Attorney-in-fact for David J. Snyderman, Manager of Supernova Management LLC Date: January 26, 2024 supernova management llc By: /s/ Hayley A. Stein Name: Hayley A. Stein Title: Attorney-in-fact for David J. Snyderman, Manager Date: January 26, 2024 DAVID J. SNYDERMAN By: /s/ Hayley A. Stein Name: Hayley A. Stein Title: Attorney-in-fact for David J. Snyderman EXHIBIT INDEX Exhibit No. Description 99.1 Joint Filing Agreement, dated as of January 26, 2024, among the Reporting Persons. 99.2 Power of Attorney, dated as of December 22, 2022 filed by the Reporting Persons on January 26, 2024.

View Full Filing

View this SC 13G/A filing on SEC EDGAR