Company: IBACR
Filing Date: 2025-09-10
Form Type: DEFR14A
Source: 0001641172-25-027042
Chunk: 10

Company: IB Acquisition Corp.
Filing Date: 2025-09-10
Form: DEFR14A
Chunk 10
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 combination until the Extended Date. The Company will remain a reporting company under the Exchange Act and its common stock and public rights will remain publicly traded. The Company will then continue to work to consummate an initial business combination by the Extended Date.

Notwithstanding stockholder approval of the Extension Proposal, our Board will retain the right to abandon and not implement the Extension at any time without any further action by our stockholders.

If the Extension Proposal is approved, and the Extension Amendment is implemented, each public stockholder 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 $121.862 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