IB Acquisition Corp is a special purpose acquisition company (SPAC) formed under Delaware law with the objective of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company’s securities, including its units and redeemable warrants, trade on the Nasdaq Capital Market under the symbols IBACU, IBAC and IBACR. By design, IB Acquisition Corp has no operations until it completes a business combination, offering public investors the opportunity to participate in a sponsor-backed acquisition strategy.
In June 2019, IB Acquisition Corp completed its initial public offering, raising capital through the sale of units, each consisting of one share of Class A common stock and one-half of one redeemable warrant. The proceeds from its IPO are held in a trust account and may be used, upon shareholder approval, to pursue a merger or acquisition through which the company will seek to create long-term value for its investors. The SPAC’s sponsor brings experience in investment banking, corporate finance and mergers and acquisitions to guide target identification and transaction execution.
While IB Acquisition Corp has not announced a definitive business combination as of the latest filings, the company continues to evaluate opportunities across a range of industries and geographies. Its management team emphasizes sectors with attractive growth dynamics and proven leadership, targeting companies in North America and abroad. Upon completion of a transaction, the combined entity is expected to assume the name and operations of the acquired business, transitioning from a blank-check vehicle to an operating public company.
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