Company: IBACR
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006426
Chunk: 20

Company: IB Acquisition Corp.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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.0%
  
    Risk-free rate 
     4.8% 
     4.1%
  
    Spot price 
    $8.95  
    $9.46 
  
    Discount of lack of marketability (DLOM) 
     0.2% 
     0.4%
  
    Equity measurement input 
     0.2% 
     0.4%

Administrative
Services Agreement

The
Company entered into an Administrative Services Agreement pursuant to which the Company agreed to pay the Chief Financial Officer a sum
of $5,000 per month commencing on October 1, 2023. Upon completion of the initial business combination or the liquidation, the Company
will cease paying these monthly fees. On January 22, 2024, the Company’s Chief Financial Officer resigned and the Administrative
Services Agreement was terminated.

On
January 22, 2024, the Company appointed a new Chief Financial Officer and entered into an Administrative Services Agreement dated January
24, 2024, pursuant to which the Company agreed to pay the Chief Financial Officer a sum of $5,000 per month commencing at the time of
the Initial Public Offering closing. The agreement further specified that upon completion of the initial business combination or the
liquidation, the Company will cease paying these monthly fees.

For
the three months ended December 31, 2024, the Company incurred $15,000 in fees for these services, of which $15,000 is recorded as accounts
payable and accrued expenses in the balance sheets as of December 31, 2024. For the three months ended December 31, 2023, the Company
incurred $15,000 in fees for these services, of which $5,000 is recorded as accounts payable and accrued expenses in the balance sheets
as of December 31, 2023.  

 10 

IB
ACQUISITION CORP.

NOTES
TO FINANCIAL STATEMENTS

DECEMBER
31, 2024

(Unaudited)

NOTE
6. COMMITMENTS AND CONTINGENCY

Registration
Rights

The
holders of the Founder Shares, Private Placement Units (and their underlying securities) any Units that may be issued upon conversion
of the Working Capital Loans (and underlying securities), and Representative Shares are entitled to registration rights pursuant to a
registration rights agreement signed on the effective date of the Initial Public Offering requiring the Company to register such securities