Company: IBACR
Filing Date: 2025-09-10
Form Type: DEF 14A
Source: 0001641172-25-026995
Chunk: 9

Company: IB Acquisition Corp.
Filing Date: 2025-09-10
Form: DEF 14A
Chunk 9
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holder may seek to redeem its public shares as described under “Redemption Rights,” below, we cannot predict the amount that will remain in the Trust Account following any redemptions, and the amount remaining in the Trust Account may be only a small fraction of the approximately $115.575 million that was in the Trust Account as of the record date. We will not proceed with the Extension Amendment if redemptions or repurchases of our public shares cause us to have less than $5,000,001 of net tangible assets following approval of the Extension Proposal.

If the Extension Proposal is approved
by the Company’s shareholders, the Company has agreed to waive its right to withdraw up to $100,000 of interest accrued
on the Trust Account to pay dissolution expenses, should the Company ultimately liquidate before consummating a business combination.
As a result, the Company will not withdraw up to $100,000 of interest for such dissolution expenses upon liquidation, and up to $100,000
of any interest accrued will be held in the Trust Account and will, subject to applicable law, be released to public shareholders upon
the redemption of 100% of the public shares if the Company is unable to complete its initial business combination by March 28, 2026 or
such earlier date as determined by the Company’s board of directors.

You are not being asked to vote on a business combination at this time. If the Extension Proposal is implemented and you do not elect to redeem your public shares, provided that you are a stockholder on the record date for a meeting to consider a business combination, you will retain the right to vote on a business combination when it is submitted to stockholders, and you will have the right to redeem your public shares for cash in the event that a business combination is approved and completed or we have not consummated a business combination by the Extended Date.

Required Vote

The affirmative vote by holders of at least 65% of the Company’s outstanding shares of common stock, including the Founder Shares, is required to approve the Extension Proposal. If you do not vote, you abstain from voting or you fail to instruct your broker or other nominee as to the voting of shares you beneficially own (“broker non-votes”), your action will have the same effect as an “AGAINST” vote on the Extension Proposal.

If you do not want the Extension Proposal approved, you must abstain, not vote, or vote “AGAINST” the Extension Amendment. You will be entitled to redeem your public shares for