IB Acquisition Corp. 10-K

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information Our common stock and rights are traded on the NASDAQ under the symbols “IBAC” and “IBACR,” respectively. Our units commenced public trading on March 28, 2024. Our shares of common stock and rights began separate trading on May 1, 2024, and our units ceased trading on such separation date. Holders As of December 26, 2025, there were five holders of record for our shares common stock and one holder of record of our rights. Dividends We have not paid any cash dividends on our common stock to date and do not intend to pay cash dividends prior to the completion of a business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition subsequent to completion of a business combination. The payment of any cash dividends subsequent to a business combination will be within the discretion of our board of directors at such time. In addition, our board of directors is not currently contemplating and does not anticipate declaring any stock dividends in the foreseeable future. Further, if we incur any indebtedness, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith. Recent Sales of Unregistered Securities; Use of Proceeds from Registered Offering On March 28, 2024, we consummated our initial public offering (“IPO”) of 11,500,000 units, including the issuance of 1,500,00 units as a result of the underwriters’ exercise of their over-allotment option in full. The units were sold at a price of $10.00 per unit, generating gross proceeds of $115,000,000. Simultaneously with the closing of the IPO, pursuant to certain subscription agreements, we completed a private sale of an aggregate of 610,500 private placement units (the “Private Placement Units”) to our sponsor 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. I-Bankers was the representative of the several underwriters. The securities sold in the IPO were registered under the Securities Act on registration statements on Form S-1 (No. 333-275650). The SEC declared the registration statement effective on March 25, 2024. We paid a total of $450,000 in underwriting discounts and commissions and $438,795 for other costs and expenses related to the IPO. I-Bankers, representative of the several underwriters in the IPO, received a portion of the underwriting discounts and commissions related to the IPO. After deducting the underwriting discounts and commissions and incurred offering costs, the total net proceeds from our IPO and the sale of the private placement warrants was $121,105,000, of which $115,575,000 (or $10.05 per unit sold in the IPO) was placed in the trust account. Other than as described above, no payments were made by us to directors, officers or persons owning ten percent or more of our common stock or to their associates, or to our affiliates. 51 Purchases of Equity Securities by the Issuer and Affiliated Purchasers We did not repurchase any of our equity securities during the year ended September 30, 2025. ITEM 6. [RESERVED]