IB Acquisition Corp
For the period ended Sep 30, 2024. Filed Dec 26, 2024.
View on SEC.govAbout this filing
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FY2024 · Filed Dec 26, 2024
IBAC$10.81-0.5%Stored close · as of Nov 2, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Statements of Cash Flows
| For the Year Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash Flows from Operating Activities: | ||
| Net income (loss) | $1,867,387 | $(6,844) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Interest earned on marketable securities held in Trust Account | (3,026,873) | — |
| Changes in operating assets and liabilities: | — | |
| Prepaid expenses | (36,216) | — |
| Short-term prepaid insurance | (339,500) | — |
| Accounts payable and accrued expenses | 78,731 | 6,637 |
| Income taxes payable | 635,512 | — |
| Net cash used in operating activities | (820,959) | (207) |
| Cash Flows from Investing Activities: | ||
| Investment of cash into Trust Account | (115,575,000) | — |
| Net cash used in investing activities | (115,575,000) | — |
| Cash Flows from Financing Activities: | ||
| Proceeds from sale of units, net of underwriting discounts paid | 111,550,000 | — |
| Proceeds from sale of private placement units | 6,105,000 | — |
| Proceeds from the sponsor | — | 50,000 |
| Advances from related party | 2,249,805 | — |
| Repayment of advances from related party | (2,299,805) | — |
| Payment of offering costs | (438,795) | — |
| Net cash provided by financing activities | 117,166,205 | 50,000 |
| Net Change in Cash and cash equivalents | 770,246 | 49,793 |
| Cash and cash equivalents – Beginning of period | 52,553 | 2,760 |
| Cash and cash equivalents – End of period | $822,799 | $52,553 |
| Non-Cash investing and financing activities: | ||
| Issuance of representative shares | $3,867,050 | $— |
| Representative warrants deferred offering cost allocation | $81,208 | $— |
| Remeasurement of Common Stock subject to possible redemption | $12,952,678 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.