The Supplement provides that the monthly loan amount that IX Acquisition Sponsor LLC (the "Sponsor") will contribute to the Company's trust account if the Second Extension is approved will increase from $0.015 to $0.025 for each public share that is not redeemed while retaining the $50,000 maximum monthly amount to be contributed by the Sponsor (each such monthly loan, a "Contribution"). The Company's shareholders previously approved an extension of the time the Company has to consummate a business combination from April 12, 2023 to May 12, 2023, and to allow the Company, without another shareholder vote, by resolution of the Board, to elect to further extend such deadline in one-month increments up to eleven additional times, until April 12, 2024 (the "First Extension").
IX Acquisition Boosts Contribution Amount For Proposed Extension Timeline
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