IX Acquisition Corp. Announces Eighth Extension of Deadline to Complete Initial Business Combination

Rhea-AI Summary

IX Acquisition Corp. (Nasdaq: IXAQ) Extends Deadline for Business Combination, Receives $160,000 Deposit from Sponsor

Positive

• The extension provides the Company with additional time to secure a favorable business combination, potentially increasing shareholder value.

Negative

• None.

NEW YORK, Nov. 13, 2023 (GLOBE NEWSWIRE) -- IX Acquisition Corp. (Nasdaq: IXAQ) (the “Company”) announced today that its board of directors (the “Board”) has decided to extend the date by which the Company must consummate an initial business combination (the “Deadline Date”) from November 12, 2023 for an additional month, to December 12, 2023. This is the eighth of twelve potential one-month extensions of the Deadline Date available to the Company pursuant to its Amended and Restated Memorandum and Articles of Association. IX Acquisition Sponsor LLC will deposit $160,000 into the Company’s trust account in connection with this extension by November 13, 2023.

About IX Acquisition Corp.

IX Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. For more information, please visit https://www.ixacq.com.

What is the Deadline Date for IX Acquisition Corp.'s business combination?

The Deadline Date has been extended from November 12, 2023, to December 12, 2023.

How many potential one-month extensions are available to the Company?

There are twelve potential one-month extensions available to the Company.

How much did IX Acquisition Sponsor LLC deposit into the Company's trust account?

IX Acquisition Sponsor LLC deposited $160,000 into the Company’s trust account in connection with the extension.