---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-013043"
form_type: "8-K"
ticker: "IBAC"
cik: "0001998781"
company_name: "IB Acquisition Corp."
filed_at: "2024-04-03T23:59:59+00:00"
generated_at: "2026-06-04T03:00:47.947942+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# IB Acquisition Corp. completes IPO of 11.5M units at $10, raises $115M; auditor raises going concern doubt

## Summary
- IPO of 11,500,000 units at $10.00/unit, gross proceeds $115,000,000; includes full over-allotment.
- Private placement of 610,500 units to sponsor I-B Good Works 4, LLC at $10.00/unit, gross proceeds $6,105,000.
- Total of $115,575,000 deposited in trust account; shares redeemable at $10.05 per share.
- Auditor reports substantial doubt about going concern; cash $1.66M and working capital $1.39M as of March 28, 2024.
- Company has 18 months from IPO to complete a business combination; no target selected yet.

## SEC filing metadata
- accession: 0001493152-24-013043
- form_type: 8-K
- ticker: IBAC
- cik: 0001998781
- company_name: IB Acquisition Corp.
- filed_at: 2024-04-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1998781/000149315224013043/0001493152-24-013043-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1998781/000149315224013043/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-013043
- JSON: https://secwatch.observer/filing/0001493152-24-013043.json
- Plain text: https://secwatch.observer/filing/0001493152-24-013043.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.