IX Acquisition Corp. enters definitive merger with AERKOMM Inc.; implied enterprise value $400M

IX Acquisition Corp.

Implied enterprise value $400M; closing consideration 50% at $11.50/share, 50% as Class D incentive equity.
Minimum PIPE of $30M (best efforts $65M) at $11.50/share; SAFE investment minimum $15M.
Post-closing company renamed AKOM Inc.; SPCA will domesticate from Cayman to Delaware before close.
Lock-up of 12 months for all merger consideration shares; termination fees up to $12M if alternative deal.
Board: Sponsor gets 2 seats, Company gets 4-5 seats, mutual independent directors; terms included.

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 0001104659-24-044636

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