AERKOMM plans to switch listing to major U.S. stock exchange via U.S.-listed SPAC — LOI signed.

AERKOMM Inc. (Euronext: AKOM, OTCQX: AKOM) has executed a non-binding Letter of Intent with a publicly traded U.S. Special Purpose Acquisition Company regarding a business combination that would transition the company’s listing to a major U.S. stock exchange.

Contemplated structure

• All-stock deal: The SPAC would acquire 100% of AERKOMM’s outstanding equity in exchange for stock consideration.
• Valuation: US $300 million to US $400 million total, of which US $150 million to US $200 million is contingent earn-out tied to performance milestones.
• Conditions: Definitive agreements remain subject to confirmatory due diligence, equity fundraise commitments, and customary closing conditions.

What’s next

AERKOMM has established relationships with satellite constellation operators across multiple orbital paths, and has secured interest from both public and private-sector clients. A move to a major U.S. exchange would materially expand the pool of investors able to hold the company and give AERKOMM a currency more suited to further acquisitions.

The LOI was later superseded by a definitive Business Combination Agreement with IX Acquisition Corp. announced on March 29, 2024.