Company: IBACR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023510
Chunk: 26

Company: IB Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 excluding 11,500,000 shares of common stock subject to possible redemption.

NOTE
8. FAIR VALUE MEASUREMENTS

The
Company follows the guidance in ASC 820 for its financial assets and liabilities that are re-measured and reported at fair value at each
reporting period, and non-financial assets and liabilities that are-measured and reported at fair value at least annually.

The
fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would
have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction
between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company
seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable
inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is
used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and
liabilities:

    Level
    1:
    Quoted
    prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions
    for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

    Level
    2:
    Observable
    inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities
    and quoted prices for identical assets or liabilities in markets that are not active.

    Level
    3:
    Unobservable
    inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability.

As
of June 30, 2025, assets held in the Trust Account were comprised of $121,553,746 in a money market fund that is invested primarily in
U.S. Treasury Securities. For the period ended June 30, 2025, the Company did not withdraw any interest earned on the Trust Account.

As
of September 30, 2024, assets held in the Trust Account were comprised of $118,601,873 in a money market fund that is invested primarily
in U.S. Treasury Securities. Through September 30, 2024, the Company has not withdrawn any of the interest earned on the Trust Account.

    12

IB
AC