IX Acquisition Corp. signs definitive merger with AERKOMM Inc. at $400M enterprise value

IX Acquisition Corp.

AERKOMM is an asset-light satellite communication tech company with proprietary antennas/modems.
Closing consideration of $400M: 50% at closing (net debt/working capital adjusted) plus 50% incentive earnout.
PIPE investment minimum $45M (incl. SAFE) at $11.50/share; company to use best efforts for $65M total.
12-month lock-up for shares received by AERKOMM holders; board set to 7-9 directors with sponsor/company designees.
Termination fee: $12M if Company enters alternative transaction within 12 months; $5M cause termination fee.

item 1.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

IX Acquisition Corp. entered into Merger Agreement with AERKOMM Inc. (effective 2024-03-29).

Action: entry
Agreement: merger
Counterparty: AERKOMM Inc.
Effective: 2024-03-29

Exact text from the filing

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 ”)

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296 material agreements filed in the last 30 days. Browse all material agreements →

IX Acquisition Corp. filing history →

Source: SEC EDGAR

accession 0001104659-24-043675

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