Shannon Grewer
About Shannon Grewer
Shannon Grewer (age 48) is an independent director of IX Acquisition Corp. (IXAQF). She is a corporate lawyer with significant transactional experience across project finance, private equity, and M&A, and currently serves as General Counsel for Frontier Tower Associates Philippines and Frontier Towers Bangladesh, subsidiaries of KKR-backed Pinnacle Towers . As of April 3, 2025, she is one of three directors on the board; the board has determined she is independent under Nasdaq standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Major international law firms (Washington, D.C.) | Corporate lawyer advising across power, O&G, mining, banking, retail, entertainment, aviation | Not disclosed | Led project finance, PE, acquisitions/divestitures transactions |
| Towershare (Middle East) | General Counsel | Not disclosed | Raised growth capital, oversaw tower acquisitions; executed exit via sales to Edotco and IHS Towers |
| Edotco | Advisor | Not disclosed | Advisory support; helped team raise capital from Digital Colony to launch EdgePoint (ASEAN towers) |
| Frontier Tower Associates Philippines; Frontier Towers Bangladesh (Pinnacle Towers subs) | General Counsel | Not disclosed | Legal leadership in digital infrastructure for KKR-backed platform |
| Infrastructure projects in South America, Sub-Saharan Africa, Southeast Asia | Advisor/Negotiator | Not disclosed | Negotiated mining, power, commercial agriculture projects |
External Roles
| Organization | Position | Nature | Notes |
|---|---|---|---|
| Frontier Tower Associates Philippines | General Counsel | Private subsidiary | Part of Pinnacle Towers, backed by KKR |
| Frontier Towers Bangladesh | General Counsel | Private subsidiary | Part of Pinnacle Towers, backed by KKR |
| Edotco (advisor) / EdgePoint (launch advisory) | Advisor | Private | Sector: telecom towers; capital raised from Digital Colony for EdgePoint |
Board Governance
- Independence: Board has determined Grewer is an independent director under Nasdaq standards .
- Committee memberships:
- Audit Committee member (with Eduardo Marini); Marini is the audit committee financial expert and chairs the audit committee .
- Compensation Committee member and Chair; committee comprised solely of independent directors .
- Nominating function: No standing nominating committee; Grewer, as an independent director, participates in director nominations per Nasdaq Rule 5605(e) .
- Board composition: Three members; staggered classes with Grewer’s term expiring at the second annual general meeting .
- Attendance/executive sessions: Not disclosed in filings .
Fixed Compensation
| Component | Amount/Status | Notes |
|---|---|---|
| Annual director retainer (cash) | None | Company states no cash compensation paid to directors prior to a business combination |
| Committee membership fees | None | No director cash compensation prior to business combination |
| Committee chair fees | None | No director cash compensation prior to business combination |
| Meeting fees | None | No director cash compensation prior to business combination |
| Administrative support agreement | Up to $10,000/month to IX Acquisition Services LLC (sponsor affiliate); waived for 2024 and 2023 | Related-party operating fee; not director pay |
Performance Compensation
| Instrument/Metric | Grant details | Performance metrics | Vesting |
|---|---|---|---|
| Equity awards (RSUs/PSUs) | None disclosed | Not applicable | Not applicable |
| Options | None disclosed | Not applicable | Not applicable |
| Bonus/COC/Severance | None disclosed | Not applicable | Not applicable |
| Clawbacks/Gross-ups | None disclosed | Not applicable | Not applicable |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed |
| Prior public company boards | None disclosed |
| Private/Non-profit boards | Legal leadership roles at Pinnacle Towers subsidiaries; advisory at Edotco/EdgePoint (private) |
| Potential interlocks | Network ties to KKR: Grewer works for KKR-backed Pinnacle Towers; fellow director Marini previously led Aceco TI, formerly owned by KKR—indicates shared network exposure (not a board interlock) |
Expertise & Qualifications
- Education: BA, University of Connecticut; JD, Fordham University School of Law .
- Technical/industry: Deep telecom infrastructure experience (towers across ASEAN/Middle East), project finance, PE/M&A in power, O&G, mining, banking, consumer sectors .
- Board-relevant skills: Compensation governance (chairs compensation committee), audit oversight (audit committee member), transactional expertise .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Shannon Grewer | 0 | <1% | No reported holdings of Class A or Class B shares |
| Sponsor (IX Acquisition Sponsor, LLC) | 4,002,121 Class A | 54% | Sponsor converted founder Class B to Class A; controls significant voting power |
| Board/sponsor/anchors aggregate voting power context | — | ~78.12% | Sponsor, officers, directors, and Anchor Investors collectively hold ~78.12% of ordinary shares entitled to vote (post redemptions) |
Governance Assessment
-
Strengths
- Independent status and leadership of the Compensation Committee; oversight of CEO pay policies post-business combination .
- Audit Committee role supports financial reporting and auditor oversight; strong chartered responsibilities .
- Deep sector expertise in telecom infrastructure and complex transactions enhances board effectiveness for IXAQF’s de-SPAC strategy .
-
Watch items / potential conflicts
- KKR network exposure: Grewer’s GC roles at KKR-backed Pinnacle Towers and Marini’s prior leadership at a KKR-owned asset reflect shared ties to KKR; while no related-party transactions are disclosed, future deal flow involving KKR affiliates would warrant conflict screening and recusal protocols .
- Concentrated voting control: Sponsor, officers, directors, and Anchor Investors collectively can approve ordinary-resolution items even with limited public support—reduces external shareholder leverage on governance matters .
- Market/liquidity risk: IXAQF securities are delisted from Nasdaq and trade OTC, which can impair liquidity and analyst coverage—an external governance confidence headwind .
-
Alignment and incentives
- No cash/equity compensation currently paid to directors pre-business combination; Grewer reports zero share ownership—limited direct pay alignment until post-merger plans are set .
- Sponsor economic incentives (extension loans convertible to warrants; founder share economics) can create divergence from public shareholders; robust independent committee oversight is critical .
RED FLAGS: None directly attributable to Grewer (no related-party transactions with her entities, no pledging/hedging disclosed). Systemic risks include concentrated sponsor control and OTC trading status .