secwatch.observer — SEC 8-K summary
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Issuer:     IX Acquisition Corp. (IXAQF)
CIK:        0001852019
Form:       8-K
Filed at:   2024-04-18T23:59:59+00:00
Accession:  0001104659-24-048856
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.03, 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IX Acquisition Corp. ups sponsor note to $3.5M; up to $1.5M convertible at $1/warrant
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- Principal increased to $3,500,000 (from $2,500,000) via amended and restated promissory note dated April 18, 2024.
- Note bears no interest, payable upon earliest of business combination or liquidation.
- Up to $1,500,000 of principal may be converted into warrants at $1.00 per warrant, terms identical to IPO private placement warrants.
- Proceeds support working capital expenses, with drawdowns subject to board approval and sponsor consent.
- Issued to sponsor IX Acquisition Sponsor LLC under Section 4(a)(2) exemption.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1852019/000110465924048856/0001104659-24-048856-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1852019/000110465924048856/tm243725d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-048856

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