IX Acquisition reports only $2M of $15M min SAFE investment raised for AERKOMM merger

IX Acquisition Corp.

Only $2M of required $15M SAFE investment raised as of May 13, 2024, for merger with AERKOMM Inc.
Shortfall from $15M minimum may jeopardize timely closing under the Merger Agreement.
SAFE investments convert at $11.50 per share at closing; incentive shares tied to $12.50/$15/$17.50 milestones.

item 1.01 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 AKOM Merger Sub Inc. and AERKOMM Inc. (effective 2024-03-29).

Action: entry
Agreement: merger
Counterparty: AKOM Merger Sub Inc. and AERKOMM Inc.
Effective: 2024-03-29

Exact text from the filing

On March 29, 2024, IX Acquisition Corp. ( Parent ), a Cayman Islands exempted company, 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 ”) (as it may be amended and/or restated from time to time, the “ Merger Agreement ”).

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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 0001104659-24-062983

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