IB Acquisition Corp. Files 8-K on Corporate Structure

TL;DR

IBAC filed an 8-K detailing its units, common stock, and rights structure as of March 28, 2024.

AI Summary

IB Acquisition Corp. filed an 8-K on April 3, 2024, reporting an event on March 28, 2024. The filing details the company's structure, including units consisting of common stock and rights, as well as separate shares of common stock and rights. IB Acquisition Corp. is incorporated in Nevada and operates in the blank checks sector.

Why It Matters

This filing provides essential details about the composition of IB Acquisition Corp.'s securities, which is crucial for investors to understand the structure of their potential investment.

Risk Assessment

Risk Level: low — This filing is a routine corporate disclosure and does not indicate any immediate financial distress or significant operational changes.

Key Players & Entities

• IB Acquisition Corp. (company) — Registrant
• March 28, 2024 (date) — Date of earliest event reported
• April 3, 2024 (date) — Date of report
• Nevada (jurisdiction) — State of incorporation

FAQ

Key Financial Figures

• $0.0001 — onsisting of one share of common stock, $0.0001 par value, and one right IBACU The
• $10.00 — tock. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to
• $115,000,000 — rating gross proceeds to the Company of $115,000,000. Simultaneously with the closing of t
• $6,105,000 — rating gross proceeds to the Company of $6,105,000. The Private Placement Units are identi
• $115,575,000 — s Act of 1933, as amended. A total of $115,575,000 of the net proceeds from the IPO (inclu

Filing Documents

• form8-k.htm (8-K) — 47KB
• ex99-1.htm (EX-99.1) — 109KB
• 0001493152-24-013043.txt ( ) — 401KB
• ibac-20240328.xsd (EX-101.SCH) — 4KB
• ibac-20240328_def.xml (EX-101.DEF) — 27KB
• ibac-20240328_lab.xml (EX-101.LAB) — 37KB
• ibac-20240328_pre.xml (EX-101.PRE) — 25KB
• form8-k_htm.xml (XML) — 7KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): MARCH 28, 2024 IB ACQUISITION CORP. (Exact Name of Registrant as Specified in its Charter) nevada 001-41988 85-2946784 (State or Other Jurisdiction of Incorporation or Organization) (Commission File No.) (I.R.S. Employer Identification No.) 1200 N Federal Highway, Suite 215 Boca Raton , FL 33432 (Address of principal executive offices and zip code) (214) 687-0020 (Registrant's telephone number, including area code) (Former name or former address, if changed from last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-14(c)). Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol (s) Name of each exchange on which registered Units, each consisting of one share of common stock, $0.0001 par value, and one right IBACU The NASDAQ Stock Market LLC Shares of common stock, par value $0.0001 per share IBAC The NASDAQ Stock Market LLC Rights, each entitling the holder to receive one-twentieth of one share of common stock IBACR The NASDAQ Stock Market LLC Item 8.01. Other Events. On March 28, 2024, IB Acquisition Corp. (the "Company") consummated its initial public offering ("IPO") of 11,5000,000 units (the "Units"), which included 1,500,000 Units issued pursuant to the full exercise of the over-allotment option granted to the underwriters. Each Unit consists of one share of common stock of the Company, par value $0.0001 per share, and one right (the "Rights"). Each Right entitles the holder thereof to receive one-twentieth of one share of common stock. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $115,000,000. Simultaneously with the closing of the IPO, the Company completed the private sale of an aggregate of 610,500 units (the "Private Placement Units") to I-B Good Works 4, LLC, at a purchase price of $10.00 per Private Placement Unit, generating gross proceeds to the Company of $6,105,000. The Private Placement Units are identical to the Units sold in the IPO except that the Private Placement Units are not transferable, assignable, or salable until 30 days after the completion of the Company's initial business combination. No underwriting discounts or commissions were paid with respect to such sale. The issuance of the Private Placement Units was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended. A total of $115,575,000 of the net proceeds from the IPO (including the full exercise of the over-allotment option) and the sale of the Private Placement Units were placed in a U.S.-based trust account maintained by Continental Stock Transfer & Trust Company, acting as trustee. An audited balance sheet as of March 28, 2024, reflecting receipt of the proceeds upon consummation of the IPO and the issuance of the Private Placement Units has been issued by the Company and is included as Exhibit 99.1 to this Current Report on Form 8-K. Item 9.01. Financial Statements and Exhibits. (d) Exhibits EXHIBIT INDEX Exhibit No. Description 99.1 Audited Balance Sheet as of March 28, 2024 104 Cover Page Interactive Data File (embedded within the XBRL document) 2 SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. IB ACQUISITION CORP. By: /s/ Al Lopez Al Lopez Chief Executive Officer Dated: April 3, 2024 3

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