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IB Acquisition stockholders approve deadline extension to March 2027, redeem $1.29M
IBACIB Acquisition Corp.
IB Acquisition Corp. stockholders approved a proposal to extend the deadline for consummating an initial business combination from September 28, 2026, to March 28, 2027. The extension was supported by approximately 99.8% of votes cast, with only 4,523 shares voting against it. Concurrently, holders of 117,386 shares exercised redemption rights at approximately $10.97 per share, resulting in a payout of roughly $1.29 million from the trust account. This leaves approximately $7.04 million remaining in the trust to fund future operations or a potential business combination. IB Acquisition Corp. operates as a blank check company (SPAC) focused on identifying and merging with private enterprises.