IX Acquisition Corp.
12.20+0.00 (+0%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCPK · IXAQF · USD
Key Stats
Market Cap
89.80MP/E (TTM)
-Basic EPS (TTM)
-0.16Dividend Yield
0%Recent Filings
8-K
SPAC meeting adjourned for extension vote
IX Acquisition Corp. adjourned its extraordinary general meeting on October 8, 2025, after shareholders unanimously approved the Adjournment Proposal with 5,309,756 votes for and zero against, representing 72.14% quorum. The meeting resumes October 10 to vote on extending the business combination deadline and ratifying auditors. Shareholders can reverse prior redemptions via the transfer agent. This buys time for the SPAC to pursue a target amid redemption pressures.
8-K
SAFE funding advances merger
IX Acquisition Corp. entered a new SAFE Agreement on June 9, 2025, bringing total commitments to $6.5 million, convertible to Parent shares at $11.50 upon merger closing with AERKOMM Inc., plus 94% incentive shares in escrow tied to stock price milestones. This funds SPAC working capital through September 2025, with $520,000 wired already and $200,000 more pending a $1.5 million SAFE raise by July 31. Merger risks loom if regulatory approvals falter.
10-Q
Q1 FY2025 results
IX Acquisition Corp. swung to a net income of $242,125 for Q1 FY2025 ended March 31, 2025, up from a $721,742 loss a year earlier, thanks to a $373,000 gain on warrant fair value changes that outpaced the $281,488 operating loss—68% lighter than last year's $880,791. Trust Account income dipped to $150,613 from $345,617, reflecting lower balances after redemptions, while the account grew q/q to $19.2M from $18.9M via extension deposits. Cash outside the trust remains slim at $3,750, offset by a $4.2M related-party promissory note for extensions; no capex means free cash flow mirrors the $241K operating cash use. The merger with AERKOMM, inked March 2024 and amended thrice since, eyes $35M PIPE and $5M SAFE funding at $11.50/share conversion, but delisting to OTC in June 2025 adds friction. Yet progress persists. Deadlines loom.
8-K
Auditor switch due to acquisition
IX Acquisition Corp. switched auditors on April 21, 2025, after Marcum LLP resigned due to its attest business acquisition by CBIZ CPAs P.C., which the company's Audit Committee promptly engaged as its new independent registered public accounting firm. Marcum's prior audit reports for fiscal years 2023 and 2024 carried no disagreements or reportable events, only a going concern explanatory paragraph. This seamless transition avoids disruptions. No prior consultations with CBIZ occurred.
8-K
Merger deadline extended briefly
IX Acquisition Corp. amended its merger agreement with AERKOMM Inc. on April 12, 2025, extending the outside closing date to April 17, 2025, from the prior deadline. This third amendment addresses delays in completing the deal, originally announced in March 2024, amid risks like regulatory hurdles and integration challenges. The move buys a brief window. Yet, failure to close could trigger termination without default.
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