The ~$1.58 spread between trust redemption value ($13.08) and market price ($11.50) creates a near-certain arbitrage for public shareholders who tender shares by October 5, 2026. Approval is virtually guaranteed given insider control. Monitor for any announced business combination target before the October 12, 2027 extended deadline.
Price Chart
Executive Summary
IX Acquisition Corp. is seeking shareholder approval for a fifth extension of its SPAC deadline from October 12, 2026 to October 12, 2027, along with ratification of CBIZ as auditor and an adjournment proposal. The SPAC has been unable to complete a business combination since its October 2021 IPO and has already obtained four prior extensions. The sponsor holds ~62% voting control and anchor investors hold ~27%, making approval virtually certain. The stock trades at $11.50 on OTC markets, below the ~$13.08 trust redemption value, creating an arbitrage opportunity for public shareholders.
Key Facts
- Meeting scheduled for October 7, 2026 to vote on fifth extension to October 12, 2027
- Trust account holds approximately $9,174,790.96 as of September 24, 2026
- Redemption price is approximately $13.08 per public share vs. $11.50 closing price on OTCM
- Sponsor, officers, directors and anchor investors collectively own ~89.13% of outstanding ordinary shares
- Sponsor holds 4,002,121 Class A shares and 6,150,000 Private Placement Warrants
- Sponsor will contribute lesser of $25,000 or $0.03 per outstanding public share monthly for extension
- Extension promissory note of up to $4,500,000 issued; $3,805,175 outstanding as of June 30, 2026
- Securities delisted from Nasdaq and now trade on OTC Markets
- CBIZ CPAs P.C. appointed as auditor after Marcum resigned in April 2025
Financial Impact
Trust account ~$9.17M; redemption ~$13.08/share vs. market price $11.50; sponsor loans ~$3.8M outstanding
Risk Factors
- Even with extension, no assurance a business combination will be completed
- Redemptions could leave insufficient cash to consummate a deal
- OTC trading limits liquidity and market price
- Potential classification as an investment company under the Investment Company Act
- Warrants will expire worthless if no business combination is completed
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEF 14A Filing (Primary) | 0001104659-26-111045 |
| Document: 0001104659-26-111045-index-headers.html | 0001104659-26-111045 |
| Document: 0001104659-26-111045-index.html | 0001104659-26-111045 |
| Document: 0001104659-26-111045.txt | 0001104659-26-111045 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 13d ago | 8-K | $12.99 | awaiting T+20 | — | $12.99 (−0.00%) |
Sep 25, 2026 4w ago | DEF 14A | $11.51 $12.99 | ▲ +12.86% | ▲ +12.89% | $12.99 (+12.86%) |
Aug 31, 2026 8w ago | 425 | $12.06 $11.51 | ▼ −4.56% | ▼ −5.74% | $12.99 (+7.71%) |
Aug 31, 2026 8w ago | 8-K | $12.06 $11.51 | ▼ −4.56% | ▼ −5.74% | $12.99 (+7.71%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers