8-K/A filed September 23, 2026, 5:15 PM ET ticker IBAC CIK 0001998781

other material confidence high sentiment positive materiality 0.80

IBAC secures $50M equity line, $16.5M PIPE for GNQ merger, amends deal to drop min cash

IB Acquisition Corp.

Equity Purchase Facility: up to $50M from ELOC investor; 36-month commitment period, $675K convertible commitment note at $10/share.
PIPE: initial $16,470,588 senior secured convertible notes, up to $90M total; $10 conversion price, 12% interest.
Amending Agreement removes Minimum Cash closing condition, issues 350,000 shares to Buyer, releases 610,500 units from Sponsor lock-up.
All notes mature 12 months from issuance, convertible at $10 with 12% interest and 18% default rate, redemption at 130-135% premium.
Commitment Note interest payable in shares or cash; GNQ guarantees obligations.

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