Company: IBACR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023510
Chunk: 72

Company: IB Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 72
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 affect our selection
of a Business Combination target.

We
may not be able to adequately address the risks presented by these tariffs or other potential trade policy changes. As a result, we may
deem it costly, impractical or risky to complete an initial Business Combination with a particular target or with a target in a particular
industry or from a particular country. Consequently, the pool of potential target companies may be reduced, which could impair our ability
to identify a suitable target and to complete an initial Business Combination. If we complete an initial Business Combination with such
a target, the post-Business Combination company’s operations and financial results could be adversely affected as a result of tariffs
or changes to trade policies, which may cause the market value of the securities of the post-Business Combination company to decline.

Item
2. Unregistered Sales of Equity Securities and Use of Proceeds.

On
March 28, 2024, the Company consummated the Initial Public Offering of 11,500,000 units, which includes the full exercise by the underwriters
of their over-allotment option in the amount of 1,500,000 Units, at a purchase price of $10.00 per Unit, generating gross proceeds of
$115,000,000. I-Bankers Securities, Inc. and IB Capital LLC acted as joint book-running manager, of the Initial Public Offering. The
securities in the offering were registered under the Securities Act on registration statement on Form S-1 (No. 333-275650). The Securities
and Exchange Commission declared the registration statements effective on March 25, 2024.

Simultaneously
with the closing of the IPO, the Company completed the private sale of an aggregate of 610,500 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.

17

A
total of $115,575,000 of the net proceeds