IX Acquisition Corp.

IX Acquisition Corp. is a blank check company, also known as a Special Purpose Acquisition Company (SPAC), incorporated on March 1, 2021, in the Cayman Islands. Its primary purpose is to complete a business combination, such as a merger, asset acquisition, or share purchase, with one or more existing businesses. The company has not yet engaged in any operations or generated revenue. As defined by the Securities Exchange Act of 1934, it is considered a "shell company" due to its lack of operations and minimal assets, which consist almost entirely of cash. On October 12, 2021, the company completed its initial public offering (IPO), selling 23,000,000 units, including 3,000,000 units from the underwriters' full exercise of their over-allotment option. Each unit was priced at $10.00, generating gross proceeds of $230,000,000 before expenses. Each unit comprises one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant allowing the holder to purchase one Class A ordinary share at $11.50 per share. On March 11, 2021, IX Acquisition Services LLC, the company's sponsor, purchased 5,750,000 Class B ordinary shares (Founder Shares) for $25,000, or approximately $0.004 per share. The sponsor later sold 1,747,879 Founder Shares to anchor investors on October 12, 2021, in connection with their unit purchases in the IPO. The number of Founder Shares was set to represent 20% of the outstanding shares after the IPO, assuming the underwriters' over-allotment option was fully exercised. Prior to the sponsor's initial $25,000 investment, the company had no assets.