secwatch.observer — SEC 8-K summary
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Issuer:     IX Acquisition Corp. (IXAQF)
CIK:        0001852019
Form:       8-K/A
Filed at:   2024-04-08T23:59:59+00:00
Accession:  0001104659-24-044636
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1852019/000110465924044636/0001104659-24-044636-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1852019/000110465924044636/tm2411298d1_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-044636

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