secwatch.observer — SEC 8-K summary
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Issuer:     IX Acquisition Corp. (IXAQF)
CIK:        0001852019
Form:       8-K
Filed at:   2024-12-04T23:59:59+00:00
Accession:  0001104659-24-125377
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IX Acquisition reports only $5M SAFE investment secured against $15M requirement for AERKOMM merger
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- As of Dec 4, 2024, SAFE Agreements aggregate $4,997,200, below the $15M minimum required under the Merger Agreement.
- SAFEs convert automatically upon merger close at $11.50 per SPAC share; each also yields 94% bonus Incentive Shares.
- Incentive Shares are escrowed and released if SPAC stock hits $12.50, $15.00, or $17.50 VWAP thresholds within 5 years.
- Only one new SAFE was entered on Dec 4, indicating continued shortfall in private placement funding.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1852019/000110465924125377/0001104659-24-125377-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1852019/000110465924125377/tm2429833d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-125377

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