- AERKOMM (OTCPK:AKOM) said on Friday it will merge with blank check firm IX Acquisition Corp (NASDAQ:IXAQ).
- The combined business will be called AKOM and its common shares are expected to result in AERKOMM transferring its listing from Euronext/OTCQX to Nasdaq in the “HOW” ticker.
- The combined business also plans to maintain a secondary listing on Euronext.
- Under the transaction, the adjusted enterprise value of AERKOMM is $200 million, as well as up to $200 million in share earnings for AERKOMM shareholders, if certain milestones are achieved.
- According to the company, the transaction is supported by a fundraising of $35 million of common equity PIPE.
- Existing AERKOMM shareholders are expected to renew 100% of their capital and may own approximately two-thirds of the new combined pro forma AKOM.
- The transaction is expected to close in the third quarter of 2024.
- Press release
