SCHEDULE 13G/A: Meteora Capital Discloses Reduced Stake in IX Acquisition Corp. Below 5%

Meteora Capital, LLC and its managing member Vik Mittal have filed an amended Schedule 13G, reporting a beneficial ownership of 4.45% in IX Acquisition Corp.'s Class A Ordinary Shares as of December 31, 2024.

Summary

• Meteora Capital, LLC and Vik Mittal, its Managing Member, are the reporting persons for this Schedule 13G Amendment No. 1.
• The filing pertains to Class A Ordinary Shares, par value $0.0001 per share, of IX Acquisition Corp.
• As of December 31, 2024, the reporting persons beneficially own an aggregate of 250,000 shares.
• This ownership represents 4.45% of the Class A Ordinary Shares outstanding.
• Meteora Capital, LLC is a Delaware limited liability company, and Vik Mittal is a United States citizen.
• The shares are held with shared voting power and shared dispositive power by both reporting persons.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: This is a neutral regulatory disclosure of beneficial ownership, not containing performance or strategic updates.

Positives

• NA

Negatives

• NA

Risks

• NA

Future Outlook

NA

Industry Context

This filing is a standard disclosure required by the SEC for passive investors who hold a significant stake (historically 5% or more) in a publicly traded company. The amendment indicates a change in their reported beneficial ownership, specifically that their stake is now below the 5% threshold, which typically means they are no longer required to file future 13G reports unless their ownership again crosses the 5% threshold.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant investor's stake, indicating that Meteora Capital and Vik Mittal's beneficial ownership in IX Acquisition Corp. is now below 5%.

Key Dates

Keywords

SEC filing, Schedule 13G, beneficial ownership, IX Acquisition Corp., Meteora Capital, Vik Mittal, Class A Ordinary Shares, investment manager, passive investment