secwatch.observer — SEC 8-K summary
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Issuer:     IX Acquisition Corp. (IXAQF)
CIK:        0001852019
Form:       8-K
Filed at:   2023-04-14T23:59:59+00:00
Accession:  0001104659-23-045703
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 5.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IX Acquisition shareholders approve extension; ~79% of shares redeemed for $189M, trust drops to $48M
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- Shareholders approved extension of deadline from April 12 to May 12, 2023; Board may extend monthly up to April 2024.
- Redemptions: 18.3M shares at ~$10.30/share for ~$189M; trust drops to ~$48M from ~$237M.
- Sponsor advanced $160K for first month extension; issued up to $1M convertible note convertible into warrants at $1/warrant.
- Also approved elimination of $5M net tangible asset limit and conversion of founder shares to Class A ordinary shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1852019/000110465923045703/0001104659-23-045703-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1852019/000110465923045703/tm2312924d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-045703

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer