IX Acquisition Boosts Contribution Amount For Proposed Extension Timeline
Portfolio Pulse from Benzinga Newsdesk
IX Acquisition Sponsor LLC has increased the monthly loan amount it will contribute to IX Acquisition's trust account if the Second Extension is approved, from $0.015 to $0.025 per public share not redeemed, with a $50,000 maximum monthly contribution. Shareholders previously approved an extension for the company to complete a business combination from April 12, 2023, to May 12, 2023, with the possibility of further monthly extensions until April 12, 2024.
December 06, 2023 | 7:22 am
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IX Acquisition's Sponsor has agreed to increase its monthly contribution to the trust account, which may positively influence shareholder sentiment and provide additional financial support for the company as it seeks to complete a business combination.
The increase in the monthly contribution amount by IX Acquisition's Sponsor is a positive signal to the market, indicating a stronger commitment to supporting the company financially while it searches for a business combination. This could lead to increased investor confidence and potentially a positive short-term impact on the stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100