---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-043952"
form_type: "8-K/A"
ticker: "IBAC"
cik: "0001998781"
company_name: "IB Acquisition Corp."
filed_at: "2026-09-23T21:15:13+00:00"
generated_at: "2026-09-23T21:17:08.593104+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-26-043952
- form_type: 8-K/A
- ticker: IBAC
- cik: 0001998781
- company_name: IB Acquisition Corp.
- filed_at: 2026-09-23T21:15:13+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 3.02, 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1998781/000149315226043952/0001493152-26-043952-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1998781/000149315226043952/form8-ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-043952
- JSON: https://secwatch.observer/filing/0001493152-26-043952.json
- Plain text: https://secwatch.observer/filing/0001493152-26-043952.txt

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