IX Acquisition Corp.

IX Acquisition Corp. is a blank check company formed to complete a merger, acquisition, or similar business combination with an operating business. Since inception, its activities have centered on raising capital, holding funds in trust, and negotiating a de-SPAC transaction, including a proposed combination with AERKOMM.

0.05

0.05

— IX Acquisition Corp.
%
SPAC capital vehicle100% Capital raised in the IPO and held in trust to fund a future business combination.
Transaction structuring and execution0% Merger agreement work, sponsor support, and closing-related transaction activities.
Public equity and warrant instruments0% Class A shares, rights, and warrants issued to investors as part of the SPAC structure.

The company does not sell products or services to end customers in the normal operating sense...

  • Public investorsprimary

    Buy units, shares, rights, and warrants for exposure to a future business combination and redemption rights.

  • Sponsor and affiliatesprimary

    Provide seed capital, administrative support, and transaction execution support to complete a merger.

  • Target company ownersprimary

    Would exchange their business for public-company equity if the proposed merger closes.

IX Acquisition Corp. is a U.S.-focused capital markets vehicle, although it was incorporated as a Cayman Islands...

  • •Incorporated as a Cayman Islands exempted company
  • •Operates through U.S. capital markets and SEC reporting
  • •Listed on Nasdaq before moving to OTC Markets
  • •Target search can span multiple geographies
  • •No operating revenue geography is disclosed because it is pre-combination

The company’s core strategy is to complete an initial business combination before the liquidation deadline and use...

01
Close the initial business combinationshort-term

The company has no operating business or revenue until a merger closes, so deal completion is existential.

02
Maintain listing and transaction readinessshort-term

Nasdaq review, delisting, and OTC quotation affect market access and the ability to close a public-company transaction.

03
Preserve liquidity and extension capacityshort-term

The company needs enough cash and time to fund transaction costs and avoid liquidation.

The company faces classic SPAC execution risk: if it cannot close a business combination by the deadline, it must...

critical

Mandatory liquidation if no business combination closes by deadline

The company has no operating business and depends on completing a merger before the combination period expires.

Scope
All equity holders and warrant holders
Materiality
high
high

Going concern uncertainty

Management disclosed substantial doubt because the company may need additional financing and faces a liquidation deadline.

Scope
Corporate liquidity and transaction completion
Materiality
high
high

Investment Company Act classification risk

If deemed an investment company, the SPAC could be forced to abandon the merger process and liquidate.

Scope
Trust account structure and business combination plan
Materiality
high
high

Merger execution and counterparty risk

The AERKOMM transaction requires amendments, closing conditions, and regulatory steps that may not be satisfied.

Scope
Proposed initial business combination
Materiality
high
medium

Market and geopolitical volatility

Conflict and broader market disruption can make target valuation and financing more difficult.

Scope
Target sourcing and deal terms
Materiality
medium
Redeemable equity classification
Affects balance sheet equity and redemption value adjustments
Warrant liability fair value
Can create non-cash gains or losses in the statement of operations
Trust account interest and redemption accounting
Impacts liquidity presentation and equity classification
Deferred underwriting fees
Affects closing costs and cash available from the trust

FACT II Acquisition Corp.

FACT · Aircraft Parts & Auxiliary Equipment, NEC

D. Boral ARC Acquisition I Corp.

BCAR · Services-Prepackaged Software

Titan Acquisition Corp.

TACH · Blank Checks

RF Acquisition Corp III

RFAM · Blank Checks

Viking Acquisition Corp I

VACI · Communications Services, NEC

IB Acquisition Corp.

IBAC · Services-Commercial Physical & Biological Research

: 28.4.2026