IBAC

IB Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more target businesses. The company raised capital through an initial public offering with the purpose of merging with, acquiring, or entering into a similar transaction with an operating business. SPACs like IBAC provide an alternative path for private companies to access public markets compared to traditional IPOs. The management team evaluates potential targets across various industries, seeking businesses with strong growth potential and value creation opportunities. Until a business combination is completed, the company holds its proceeds in a trust account, and shareholders have the right to redeem their shares if they disapprove of the proposed merger.