IB Acquisition holds special shareholder meeting on extension proposals
IBAC•IB Acquisition shareholders extended the deadline for an initial business combination to March 28, 2027, approved related trust-account changes and an adjournment proposal, and redeemed 117,386 shares for about $10.97 each.
1. Deadline extended
At a special meeting on Sept. 24, 2026, IB Acquisition shareholders adopted an amendment extending the deadline to complete an initial business combination to March 28, 2027. They also approved changes restricting trust-account releases before a business combination, except for interest used to pay franchise and income taxes.
2. Redemptions and trust amendment
Shareholders approved an amendment to the trust agreement authorizing the extension, though its execution was not confirmed, and approved an adjournment proposal. A total of 117,386 shares were redeemed for about $10.97 per share, removing $1,288,199.54 from the trust.
