[8-K/A] IX Acquisition Corp. Unit Amends Material Event Report

Rhea-AI Filing Summary

Amendment No. 1 to Schedule 13D filed by Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC and David J. Snyderman updates their ownership in Faro Technologies Inc. (Class A Common, CUSIP 311642102).

The filing reports that on 22 Jul 2025 Faro consummated a cash merger under which every outstanding share was converted into $44.00 in cash. The Reporting Persons’ aggregate 1,483,329 shares—held across four Magnetar-advised funds and managed accounts—were cancelled and paid out, broken down as: 712,544 shares (PRA Master Fund), 338,886 (Systematic Master Fund), 88,061 (Relative Value Master Fund) and 343,838 (two managed accounts).

Following settlement, the Reporting Persons now hold 0 shares and possess no voting or dispositive power, reducing their ownership to 0 %. No additional transactions occurred in the past 60 days, and the parties entered a joint-filing agreement (Ex. 99.1). The amendment therefore serves solely to report the exit of Magnetar’s position and related housekeeping items post-merger.

Positive

• Merger consummated at $44.00 per share, providing cash certainty and liquidity to former Faro shareholders.

Negative

• Reporting persons now own 0 % of the company; no continuing sponsor alignment or future disclosure obligations.

Insights

Financial Analyst

TL;DR: Magnetar’s 1.48 M-share stake in Faro was cashed out at $44/share; current ownership is 0 %—administrative, not market-moving.

Magnetar and affiliates confirm their exit following Faro’s cash-out merger. The disclosure is largely procedural: holders already received $44 per share and the stock ceases to trade. The amendment removes Magnetar from the cap table, but does not signal any new strategic view or forthcoming transactions. From a portfolio perspective, the firm realizes liquidity; for remaining public investors, impact is moot because the merger closed and shares were cancelled. Consequently, this filing has minimal forward-looking significance.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K/A

Current Report

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 9, 2025

IX Acquisition Corp.

(Exact name of registrant as specified in its charter)

Cayman Islands		001-40878		98-1586922
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

53 Davies Street, W1K 5JH United Kingdom		Not Applicable
(Address of principal executive offices)		(Zip Code)

+44 (0) (203) 908-0450

(Registrant’s telephone number, including area code )

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934: None.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Important Notice Regarding Forward-Looking Statements

This Current Report on Form 8-K contains certain “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended. Statements that are not historical facts, including statements about the pending transactions among Parent, Merger Sub and the Company and the transactions contemplated thereby, and the parties’ perspectives and expectations, are forward-looking statements. Such statements include, but are not limited to, statements regarding the proposed transaction, including the anticipated initial enterprise value and post-closing equity value, the benefits of the proposed transaction, integration plans, expected synergies and revenue opportunities, anticipated future financial and operating performance and results, including estimates for growth, the expected management and governance of the combined company, and the expected timing of the transactions. The words “expect,” “believe,” “estimate,” “intend,” “plan” and similar expressions indicate forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated.

Such risks and uncertainties include, but are not limited to: (i) risks related to the expected timing and likelihood of completion of the pending transaction, including the risk that the transaction may not close due to one or more closing conditions to the transaction not being satisfied or waived, such as regulatory approvals not being obtained, on a timely basis or otherwise, or that a governmental entity prohibited, delayed or refused to grant approval for the consummation of the transaction or required certain conditions, limitations or restrictions in connection with such approvals; (ii) risks related to the ability of Parent, Merger Sub and the Company to successfully integrate the businesses; (iii) the occurrence of any event, change or other circumstances that could give rise to the termination of the applicable transaction agreements; (iv) the risk that there may be a material adverse change with respect to the financial position, performance, operations or prospects of Parent, Merger Sub or the Company; (v) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (vi) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of Parent’s securities; (vii) the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Parent, Merger Sub and the Company to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally; (viii) the risk that the combined company may be unable to achieve cost-cutting synergies or it may take longer than expected to achieve those synergies; and (ix) risks associated with the financing of the proposed transaction. A further list and description of risks and uncertainties can be found in Parent’s IPO prospectus filed with the U.S. Securities and Exchange Commission (the “SEC”) and in the Registration Statement on Form S-4 and proxy statement/prospectus that will be filed with the SEC by Parent in connection with the proposed transactions, and other documents that the parties may file or furnish with the SEC, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and Parent, Merger Sub and the Company and their subsidiaries undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

Additional Information and Where to Find It

In connection with the transaction described herein, Parent will file relevant materials with the SEC, including the Registration Statement on Form S-4 and a proxy statement/prospectus. The proxy statement/prospectus and a proxy card will be mailed to shareholders of Parent as of a record date to be established for voting at the shareholders’ meeting relating to the proposed transactions. Shareholders will also be able to obtain a copy of the Registration Statement on Form S-4 and proxy statement/prospectus without charge from Parent. The Registration Statement on Form S-4 and proxy statement/prospectus, once available, may also be obtained without charge at the SEC’s website at www.sec.gov or by writing to Parent at 53 Davies Street, W1K 5JH United Kingdom. INVESTORS AND SECURITY HOLDERS OF PARENT ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTIONS THAT PARENT WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT PARENT, MERGER SUB, THE COMPANY AND THE TRANSACTIONS.

Participants in Solicitation

The Merger Sub and the Company and certain shareholders of Parent, and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of Parent ordinary shares in respect of the proposed transaction. Information about Parent’s directors and executive officers and their ownership of Parent’s ordinary shares is set forth in Parent’s Registration Statement on Form S-1 filed with the SEC. Other information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement/prospectus pertaining to the proposed transaction when it becomes available. These documents can be obtained free of charge from the sources indicated above.

No Offer or Solicitation

This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom.

Explanatory Note

IX Acquisition Corp. (“Parent”) is filing this Form 8-K/A to its Current Report on Form 8-K, as originally filed with the Securities and Exchange Commission on July 22, 2025 (the “Original Filing”), to update the third paragraph under “Item 1.01-Entry into a Material Definitive Agreement.” No other changes have been made from the Original Filing.

Item 1.01. Entry into a Material Definitive Agreement.

The Simple Agreement for Future Equity

On March 29, 2024, IX Acquisition Corp. (Parent), a Cayman Islands exempted company, entered into a Merger Agreement, by and among Parent, AKOM Merger Sub Inc., a Nevada corporation and a wholly owned subsidiary of Parent (“Merger Sub”), and AERKOMM Inc., a Nevada corporation (the “Company”) (as it may be amended and/or restated from time to time, the “Merger Agreement”). Capitalized terms used in this subsection of the Current Report on Form 8-K, but not otherwise defined herein, have the meanings given to them in the Merger Agreement.

Pursuant to the Merger Agreement, the Company was obligated to enter into simple agreements for future equity (the “SAFE Agreements”) with certain investors providing for investments in shares of the Company’s Common Stock in a private placement in an aggregate amount of not less than $15,000,000 (such investments in the aggregate, the “SAFE Investment”).

On June 9, 2025, Parent and the Company entered into a new SAFE Agreement (the “SAFE Note Agreement No. 3”). On July 23, 2025, Parent and the Company entered into a new SAFE Agreement (the “SAFE Note Agreement No. 4”). As a result, as of date that this Current Report on Form 8-K has been filed, SAFE Agreements for an aggregate of $6,997,200 have been entered into. The SAFE Agreements will automatically convert upon the closing of the merger at $11.50 per share of Parent Common Stock. If the SAFE Agreements automatically convert upon the closing of the merger, in addition to 608,452 of Parent Common Stock, the SAFE Agreements are also convertible into an additional 94% of the number of shares of Parent Common Stock, or 571,945 shares to be held in escrow subject to the same Milestone Events outlined in the Merger Agreement under the Incentive Merger Consideration (the “Incentive Shares”) section.

The Commercial Funding and Repayment Agreement

On July 15, 2025, Parent entered into a Commercial Funding and Repayment Agreement by and among IX Acquisition LLC, a Delaware limited liability company, Parent’s sponsor, and the Company (the “CFR Agreement”).

Pursuant to the CFR Agreement, the Company committed to the following: exercising best efforts to file its Form 10-K with the SEC no later than July 21, 2025; closing the SAFE Note Agreement No. 4, in a principal amount not less than $1,500,000, no later than July 31, 2025; filing its First Quarter Form 10-Q no later than July 21, 2025; and filing its Second Quarter Form 10-Q no later than August 15, 2025.

On June 12, 2025, the Company wired $520,000 of the proceeds from SAFE Note Agreement No. 3 to fund Parent’s working capital needs from May 12, 2025 through September 12, 2025 (the “Working Capital Financing”) and $150,000 of the proceeds from SAFE Note Agreement No. 3 to Parent as partial repayment of the $452,500 in payables prorated to May 12, 2025 (including $12,500 in late fees) to reimburse the working capital and general corporate expenses of Parent ( the “Working Capital Accrued Invoices”). Parent used the $150,000 received to repay an equal amount of its outstanding extension promissory notes. Parent repaid the $130,000 bridge loan from Parent’s sponsor which was received on May 12, 2025 from the Working Capital Financing.

Within two (2) business days of the closing of the SAFE Note Agreement No. 4, the Company will wire $200,000 to Parent as an additional repayment of the Working Capital Accrued Invoices. Parent will use the $200,000 to repay an equal amount of its outstanding extension promissory notes.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Description
10.1		Form of Simple Agreement for Future Equity
10.2		The Commercial Funding and Repayment Agreement
104		Cover Page Interactive Data File (embedded with the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	IX Acquisition Corp.
Dated: July 24, 2025	By:	/s/ Noah Aptekar
		Name:	Noah Aptekar
		Title:	Chief Executive Officer

FAQ

Why did Magnetar file this Schedule 13D/A on Faro Technologies?

To report that its 1,483,329 shares were cancelled in the 22 Jul 2025 cash merger, reducing ownership to 0 %.

How many Faro shares did Magnetar previously hold?

A total of 1,483,329 shares across four funds and managed accounts.

What was the merger consideration for Faro shareholders?

Each share was converted into the right to receive $44.00 in cash, without interest.

What is Magnetar’s current voting and dispositive power in Faro?

None; both sole and shared voting/dispositive power are reported as 0.

When did the Faro Technologies merger close?

The cash merger closed on 22 July 2025.