AERKOMM and IX Acquisition today announced they have entered into a definitive business combination agreement at a $200 million enterprise value and raised $35 million in a private placement.
The target is a satellite technology company providing multi-orbit broadband connectivity solutions.
While the parties said more capital may be raised to support the deal, there is no minimum cash condition to close.
The combined business will be called AKOM and listed shares are expected transfer from Euronext/OTCQX to the Nasdaq under the ticker AKOM. If the deal is approved, the combined business also plans to maintain a secondary listing on Euronext.
The deal also includes up to $200 million in earnout shares for AERKOMM shareholders, if certain milestones are achieved.
The companies are targeting a Q3 closing. Read more.
