IB Acquisition holders redeem $7.9M from trust

IB Acquisition Corp. reported the results of a special stockholder meeting and related redemptions of its common stock.

(Very High)

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

IB Acquisition Corp. reported the results of a special stockholder meeting and related redemptions of its common stock. Stockholders owning 5,077,821 shares, or about 88.46% of shares outstanding as of the February 11, 2026 record date, were present or represented by proxy.

Each proposal voted on at the meeting received 5,007,821 votes for and 70,000 against, with no abstentions or broker non-votes, so all proposals were approved. Separately, holders of 731,741 shares chose to redeem their shares for cash at approximately $10.78 per share from the company’s trust account.

These redemptions will remove about $7.9 million from the trust account, leaving approximately $8.2 million remaining. The remaining trust balance may change to reflect tax withdrawals.

Positive

None.

Negative

Significant trust depletion from redemptions: Stockholder redemptions of 731,741 shares at about $10.78 per share will remove roughly $7.9 million from the SPAC trust, leaving about $8.2 million and reducing cash available for a potential business combination.

Insights

Large redemptions significantly cut IB Acquisition’s SPAC trust.

IB Acquisition Corp., a SPAC, saw holders of 731,741 shares redeem at about $10.78 per share, pulling roughly $7.9 million out of its trust and leaving about $8.2 million. All proposals at the special meeting were approved with a wide margin.

This means nearly half of the prior trust balance (about $16.1 million implied by the remaining and redeemed amounts) has been withdrawn. For a SPAC, a smaller trust can limit the cash available to complete a business combination or require alternative financing.

Future disclosures in company filings may clarify how the reduced trust size affects any planned transaction structure and whether additional capital sources are pursued to supplement the remaining $8.2 million after tax-related withdrawals.

8-K Event Classification

Item 5.07 — Submission of Matters to a Vote of Security Holders

1 item

Item 5.07 Submission of Matters to a Vote of Security Holders Governance

Results of a shareholder vote on proposals at an annual or special meeting.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did IBAC stockholders vote on at the special meeting?

Stockholders voted on proposals described in IB Acquisition Corp.’s February 23, 2026 proxy statement. Each proposal received 5,007,821 votes for and 70,000 against, with no abstentions or broker non-votes, so all of the proposals presented were approved.

How many IBAC shares were represented at the March 25, 2026 meeting?

A total of 5,077,821 IB Acquisition Corp. common shares were present or represented by proxy. This represented approximately 88.46% of the company’s outstanding common stock as of the February 11, 2026 record date, indicating very high stockholder participation in the special meeting.

How many IBAC shares were redeemed and at what price?

Holders of 731,741 IB Acquisition Corp. common shares exercised their right to redeem. They will receive approximately $10.78 per share, paid out of the funds held in the company’s trust account, in exchange for surrendering their public shares for cash rather than remaining invested.

How much cash is IBAC removing from and leaving in its trust account?

Redemptions will remove about $7.9 million from the IB Acquisition Corp. trust account to pay redeeming holders. After these payments, around $8.2 million is expected to remain in the trust, an amount that may be adjusted for any tax withdrawals required under the trust terms.

What was the overall approval margin for IBAC’s proposals?

Each proposal received 5,007,821 votes for and 70,000 votes against, with zero abstentions and zero broker non-votes. This strong margin indicates substantial stockholder support for the actions presented at the special meeting, as outlined in the company’s definitive proxy statement.

What securities of IBAC are listed on Nasdaq?

IB Acquisition Corp. lists its common stock with a par value of $0.0001 per share under the symbol IBAC on The Nasdaq Stock Market LLC. It also lists rights, each entitling the holder to receive one-twentieth of one share of common stock, under the symbol IBACR.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/26/2026 - 09:00 AM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) March 25, 2026

IB Acquisition Corp.

(Exact name of registrant as specified in its charter)

Nevada

001-41988

85-2946784

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

1200 N Federal Highway, Suite 215

Boca Raton, FL 33432

(Address of principal executive offices) (Zip Code)

(214) 687-0020

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, par value $0.0001 per share	IBAC	The NASDAQ Stock Market LLC
Rights, each entitling the holder to receive one-twentieth of one share of common stock	IBACR	The NASDAQ Stock Market LLC

Item 5.07

Submission of Matters to a Vote of Security Holders.

On March 25, 2026, the Company held a special meeting of stockholders (the “Special Meeting”). At the Special Meeting, a total of 5,077,821 shares of common stock were present by remote communication or represented by proxy at the meeting, representing approximately 88.46% of the Company’s outstanding common stock as of the February 11, 2026 record date. The following are the voting results for the proposals considered and voted upon at the Special Meeting, which was described in the Company’s definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on February 23, 2026.

Extension Proposal: A proposal to amend the Company’s amended and restated articles of incorporation to extend the date by which the Company must consummate a business combination or, if it fails to do so, cease its operations and redeem or repurchase 100% of the shares of the Company’s common stock issued in the Company’s initial public offering, from March 28, 2026 until September 28, 2026 (the “Extension”).

Votes FOR		Votes AGAINST		Votes ABSTAINED		Broker Non-Votes
5,007,821		70,000		0		0

Based on the foregoing votes, the proposal was approved.

Trust Amendment Proposal: A proposal to amend the Investment Management Trust Agreement, dated March 25, 2024, (the “Trust Agreement”), by and between the Company and Continental Stock Transfer & Company (the “Trustee”), pursuant to an amendment to the Trust Agreement in the form set forth in Annex B of the proxy statement, to authorize the Extension and its implementation by the Company.

Votes FOR		Votes AGAINST		Votes ABSTAINED		Broker Non-Votes
5,007,821		70,000		0		0

Based on the foregoing votes, the proposal was approved.

Adjournment Proposal: A proposal to approve the adjournment of the Special Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies in the event that there are insufficient votes for, or otherwise in connection with, the approval of the forgoing proposals.

Votes FOR		Votes AGAINST		Votes ABSTAINED		Broker Non-Votes
5,007,821		70,000		0		0

Based on the foregoing votes, the proposal was approved.

Stockholders holding 731,741 shares of the Company’s shares of common stock exercised their right to redeem their shares for cash at an approximate price of $10.78 per share of the funds in the Trust Account. As a result, approximately $7.9 million will be removed from the Trust Account to pay such holders, leaving approximately $8.2 million remaining in the Trust Account. This amount is subject to change to account for the payment of tax withdrawals.

Item 9.01

Financial Statements and Exhibits

(d) Exhibits

Exhibit No.		Exhibit Description
104		Cover page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	IB Acquisition Corp.

Date: March 26, 2026	By:	/s/ Al Lopez
		Al Lopez
		Chief Executive Officer

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

4 documents

IB Acquisition holders redeem $7.9M from trust