IX Acquisition Corp (IXAQF) is a blank-check special purpose acquisition company (SPAC) incorporated in the Cayman Islands that was formed to identify and complete a merger, share exchange, asset acquisition, or similar business combination with one or more target businesses. The company holds proceeds from its initial public offering in a Trust Account, with interest income representing the primary source of funds until a business combination is consummated or shareholders redeem their shares. As of the 10-K filed April 9, 2026, the company had entered into a Merger Agreement with AERKOMM Inc. as its identified combination target. IX Acquisition operates in a crowded SPAC market where it competes directly with other SPACs, private equity groups, leveraged buyout funds, and strategic acquirers for acquisition targets. The company is headquartered at 53 Davies Street, London W1K 5JH, United Kingdom. Management disclosed substantial doubt about the company's ability to continue as a going concern if the initial business combination is not completed within the Combination Period.

Revenue model

No operating revenue. The company earns interest on funds held in the Trust Account from its IPO proceeds. All substantive economic activity is contingent on completing an initial business combination. Sponsor loans of up to $1,500,000 may be convertible into warrants at $1.00 per warrant.

Products and services

Blank-check acquisition vehicle. Key instruments include Class A ordinary shares, Class B founder shares (partially converted to Class A on May 9, 2023), Private Placement Warrants, and sponsor-issued promissory notes. The identified combination target as of the filing is AERKOMM Inc.

Customers and end markets

Public shareholders who participated in the IPO hold redemption rights entitling them to a pro-rata share of Trust Account proceeds. Anchor investors and the sponsor (IX Acquisition Sponsor LLC) hold founder shares and warrants. No commercial customers or end markets exist, as the company has no operating business.

Value-chain role

Capital aggregator and acquisition vehicle in the SPAC structure. Sits between IPO capital markets and a private operating company (AERKOMM Inc.) seeking a public listing through a merger transaction.

Geographic exposure

Incorporated in the Cayman Islands. Principal offices located in London, United Kingdom (53 Davies Street, London W1K 5JH). Listed on Nasdaq; received a Nasdaq non-compliance notice in October 2023 for falling below the 400 total holders requirement.

Competitors

Other special purpose acquisition companies, Private equity groups, Leveraged buyout funds, Public companies seeking strategic acquisitions

Source: SEC 10-K, filed 2026-04-09

Industry: Communications Services, NEC