AQR funds disclose $313K sale of IBAC stock on 10/01/2025

Rhea-AI Filing Summary

AQR-related entities reported coordinated sales of IB Acquisition Corp. (IBAC) common stock on 10/01/2025. Multiple AQR funds and accounts sold a combined 29,821 shares at $10.50 per share, for aggregate proceeds of approximately $313,121. The filing shows those holdings remain beneficially owned indirectly through the listed funds, with post-sale balances such as 363,713, 147,970, and 105,799 shares for the largest holders. The reporting entities are AQR Capital Management Holdings, LLC, AQR Capital Management, LLC and AQR Arbitrage, LLC, which act as manager or sub-advisor to the named funds. The Form 4 is signed by Henry Parkin on behalf of the reporting persons.

Positive

• Transparent reporting of specific sale amounts and post-transaction holdings for each AQR-managed fund
• Signatures from authorized signatory (Henry Parkin) and filings by the managing entities show formal compliance

Negative

• Coordinated sale of 29,821 shares at $10.50 could be read as a near-term selling signal from large shareholders
• Indirect beneficial ownership remains concentrated in multiple AQR funds, indicating continued exposure that may affect future trading liquidity

Insights

Corporate Governance Analyst

Coordinated fund-level sales of 29,821 shares at $10.50 were disclosed; ownership remains indirect through AQR funds.

The Form 4 documents sales across multiple AQR-managed funds on 10/01/2025, reducing positions by specific tranche amounts while leaving substantial indirect holdings. This is a factual disclosure of insider transactions rather than a change in control or a new position.

Because the filing shows continued indirect beneficial ownership, it indicates portfolio rebalancing or liquidity actions at the fund level rather than complete exits by the reporting entities.

Equity Trading Specialist

Total reported dispositions equaled 29,821 shares for roughly $313,121, filed on 10/03/2025.

The sale price is listed at $10.50 per share for each transaction line, implying a uniform execution price across funds. Aggregate proceeds of about $313k are modest relative to large-cap market caps but are material for tracking insider flows in smaller issuers.

If monitoring liquidity or short-term price impact, note the transaction size and identical price points; otherwise, this appears consistent with fund-level trading activity rather than directional corporate action.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

AQR Capital Management Holdings, LLC

(Last) (First) (Middle)

ONE GREENWICH PLAZA

SUITE 130

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
IB Acquisition Corp. [ IBAC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/01/2025		S		12,203	D	$10.5	363,713	I	AQR Global Alternative Investment Offshore Fund, L.P.(1)(2)
Common Stock	10/01/2025		S		4,964	D	$10.5	147,970	I	AQR Diversified Arbitrage Fund(1)
Common Stock	10/01/2025		S		3,550	D	$10.5	105,799	I	AQR Absolute Return Master Account, L.P.(1)(2)
Common Stock	10/01/2025		S		2,643	D	$10.5	78,770	I	AQR Apex MS Master Account, L.P.(1)(2)
Common Stock	10/01/2025		S		2,335	D	$10.5	69,602	I	AQR TA Global Alpha Fund, L.P.(1)(2)
Common Stock	10/01/2025		S		2,218	D	$10.5	66,117	I	AQR Corporate Arbitrage Master Account, L.P.(1)(2)
Common Stock	10/01/2025		S		917	D	$10.5	27,348	I	AQR TA Legacy Fund, LLC(1)(2)
Common Stock	10/01/2025		S		554	D	$10.5	16,503	I	AQR UCITS Funds - AQR Apex UCITS Fund(1)
Common Stock	10/01/2025		S		200	D	$10.5	5,962	I	AQR DELTA Master Account, L.P.(1)(2)
Common Stock	10/01/2025		S		143	D	$10.5	4,277	I	AQR UCITS Funds - AQR Corporate Arbitrage UCITS Fund(1)
Common Stock	10/01/2025		S		94	D	$10.5	2,791	I	AQR Arbitrage MA Offshore Fund, L.P.(1)(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

AQR Capital Management Holdings, LLC

(Last) (First) (Middle)

ONE GREENWICH PLAZA

SUITE 130

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

AQR CAPITAL MANAGEMENT LLC

(Last) (First) (Middle)

ONE GREENWICH PLAZA

SUITE 130

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

AQR Arbitrage LLC

(Last) (First) (Middle)

ONE GREENWICH PLAZA

SUITE 130

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. AQR Capital Management, LLC is a wholly owned subsidiary of AQR Capital Management Holdings, LLC. AQR Arbitrage, LLC is deemed to be controlled by AQR Capital Management, LLC. AQR Capital Management, LLC and AQR Arbitrage, LLC act as investment manager to each of AQR Global Alternative Investment Offshore Fund, L.P., AQR Corporate Arbitrage Master Account, L.P., AQR TA Global Alpha Fund, L.P., AQR Absolute Return Master Account, L.P., AQR Apex MS Master Account, L.P., AQR TA Legacy Fund, LLC, AQR DELTA Master Account, L.P., AQR Arbitrage MA Offshore Fund, L.P. AQR Capital Management, LLC serves as the investment manager, and AQR Arbitrage, LLC as sub-advisor, to the AQR Diversified Arbitrage Fund, an open-end registered investment company, to AQR UCITS Funds - AQR Apex UCITS Fund, and to AQR UCITS Funds - AQR Corporate Arbitrage UCITS Fund.

2. AQR Capital Management GP Ltd. is the general partner of AQR Global Alternative Investment Offshore Fund, L.P. AQR Corporate Arbitrage GP, LLC is the general partner of AQR Corporate Arbitrage Master Account, L.P. AQR Tax Advantaged GP II, LLC is the general partner of AQR TA Global Alpha Fund, L.P. AQR Principal Global Asset Allocation, LLC is the general partner of AQR Absolute Return Master Account, L.P. AQR Apex MS GP, LLC is the general partner of AQR Apex MS Master Account, L.P. AQR Capital Management II, LLC is the general partner of AQR TA Legacy Fund, LLC. CNH Principal Partners I, LLC is the general partner of AQR Arbitrage MA Offshore Fund, L.P. AQR Capital Management III, LLC is the general partner of AQR DELTA Master Account, L.P.

	/s/ AQR CAPITAL MANAGEMENT HOLDINGS, LLC, /s/ Henry Parkin, Authorized Signatory	10/03/2025
	/s/ AQR CAPITAL MANAGEMENT, LLC, /s/ Henry Parkin, Authorized Signatory	10/03/2025
	/s/ AQR ARBITRAGE, LLC, /s/ Henry Parkin, Authorized Signatory	10/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did AQR sell in the Form 4 for IB Acquisition Corp. (IBAC)?

On 10/01/2025, AQR-related funds reported sales totaling 29,821 shares of IBAC common stock at $10.50 per share.

How much proceeds were generated by the reported IBAC sales?

The combined sales of 29,821 shares at $10.50 produced approximately $313,121 in gross proceeds.

Which AQR entities filed the Form 4 for IBAC?

The filing lists AQR Capital Management Holdings, LLC, AQR Capital Management, LLC, and AQR Arbitrage, LLC, with Henry Parkin as authorized signatory.

Do the filings show the AQR entities fully exited their IBAC positions?

No. The Form 4 shows post-transaction indirect holdings remain, including balances like 363,713 and 147,970 shares for certain accounts.

When was the Form 4 signed?

The Form 4 signatures are dated 10/03/2025.