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The company has secured multiple SAFE agreements totaling nearly $9 million to support the Business Combination, indicating investor interest and financial backing. The liquidation of trust account securities to a bank demand deposit account mitigates regulatory risks related to the Investment Company Act. The pending merger with AKOMM Inc. offers a pathway to transition from a SPAC to an operating company, potentially unlocking value for shareholders if the transaction is consummated successfully.

Significant liquidity constraints and a net loss raise concerns about the company’s financial stability. There is substantial doubt about the company’s ability to continue as a going concern without additional financing. Regulatory risks related to the Investment Company Act and new SEC SPAC rules may delay or prevent the Business Combination. Failure to complete the transaction could lead to liquidation, causing warrants to expire worthless and shareholders to lose their investment opportunity. Geopolitical conflicts and market volatility may further complicate the transaction and operational prospects.

As a SPAC, IX Acquisition Corp. does not have an established operational moat. Its value proposition depends on successfully completing a Business Combination with a target company, AKOMM Inc. The company’s competitive position and long-term value depend on the execution of this transaction and the prospects of the combined entity. The SPAC structure inherently carries regulatory and execution risks, including compliance with evolving SEC rules and potential classification as an investment company, which could force liquidation.

• Going Concern Risk: The company has substantial doubt about its ability to continue as a going concern due to liquidity constraints and the need for additional financing to complete the Business Combination.
• Regulatory Risk: The company faces risks related to being deemed an investment company under the Investment Company Act, which could force liquidation and prevent completion of the Business Combination.
• Execution Risk: The Business Combination depends on regulatory approvals, financing, and successful integration, with risks of delays, increased costs, or termination of agreements.
• Market and Geopolitical Risk: Conflicts in Ukraine, the Middle East, or elsewhere may increase market volatility and affect the operations or financial condition of potential target companies, complicating the Business Combination.

• IX Acquisition Corp. is a Special Purpose Acquisition Company (SPAC) incorporated as a Cayman Islands exempted company.
• The company has entered into a Merger Agreement with AKOMM Inc. to consummate an initial Business Combination.
• As of December 31, 2025, the company reported cash and cash equivalents of $178,975 and current assets of $379,475, with current liabilities of $7,039,832, resulting in a current ratio of 0.05 and a cash ratio of 0.03, indicating significant liquidity constraints.
• The company reported a net loss of $842,099 for the fiscal year ended December 31, 2025.
• There is substantial doubt about the company's ability to continue as a going concern due to the need for additional financing to complete the initial Business Combination and the deadline for liquidating the trust account.
• To mitigate the risk of being deemed an investment company under the Investment Company Act, the company liquidated its trust account investments in U.S. government securities and now holds funds in an interest-bearing demand deposit account.
• The company faces regulatory and operational risks related to the completion of the Business Combination, including compliance with new SEC SPAC rules effective July 1, 2024, which may increase costs and timing for the transaction.
• The company has entered into multiple Simple Agreements for Future Equity (SAFE) to raise funds in connection with the Business Combination, with aggregate commitments exceeding $8 million as of late 2025.
• The company disclosed risks related to geopolitical conflicts potentially affecting the ability to consummate the Business Combination and the financial condition of potential target companies.
• If deemed an investment company, the company may be forced to liquidate, which would prevent completion of the Business Combination and cause warrants to expire worthless.