Company: IBACR
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006426
Chunk: 23

Company: IB Acquisition Corp.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 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 December 31, 2024, assets held in the Trust Account were comprised of $119,658,403 in a mutual fund that is invested primarily in
U.S. Treasury Securities. For the three months ended December 31, 2024, 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 mutual 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 Through September 30, 2024, the Company has not withdrawn any of the interest earned on the Trust Account.

     11 

IB
ACQUISITION CORP.

NOTES
TO FINANCIAL STATEMENTS

DECEMBER
31, 2024

(Unaudited)

The
following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring
basis as of December 31, 2024, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such
fair value.:

 SCHEDULE
OF ASSETS AND LIABILITIES MEASURED FAIR VALUE ON RECURRING BASIS

    Description 
    Level  
    December 31, 2024  
    September 30, 2024 
  
    Assets: 

    Marketable securities held in trust account 
     1  
    $119,658,403  
    $