IB Acquisition Corp. enters into $500M business combination with GNQ Insilico Inc.

IB Acquisition Corp.

Total arrangement consideration of $500M plus potential revenue and share-price earnouts.
GNQ shareholders to receive SPAC Class A common or exchangeable shares; GNQ management to lead combined company.
Bridge financing of up to $2M via 10% secured convertible notes and warrants; $250K initial note issued.
Lock-up for key shareholders: 6 months; early release triggers at $12 and $15 SPAC stock price.
Closing requires SPAC stockholder approval, court order, regulatory clearances, and min $15M available cash.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

IB Acquisition Corp. entered into Business Combination Agreement with GNQ Insilico Inc. valued at Arrangement Consideration equal to US$500,000,000 plus any amount paid under the Revenue Earnout or (effective 2026-03-16).

Action: entry
Agreement: merger
Counterparty: GNQ Insilico Inc.
Value: Arrangement Consideration equal to US$500,000,000 plus any amount paid under the Revenue Earnout or
Effective: 2026-03-16

Exact text from the filing

On March 16, 2026, IB Acquisition Corp., a Nevada corporation (“ IB Acquisition ”), and GNQ Insilico Inc., a corporation formed under the federal laws of Canada (“ GNQ ”), entered into a Business Combination Agreement (the “ BCA ”).

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IB Acquisition Corp. filing history →

Source: SEC EDGAR

accession 0001493152-26-010261

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