IB Acquisition Corp.
For the period ended Jun 30, 2025. Filed Aug 13, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 13, 2025
IBAC$10.81-0.5%Stored close · as of Nov 2, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-03-31; filed 2025-05-15.
0001641172-25-010982
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-06-30; filed 2025-08-13.
0001641172-25-023510
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 41 previous paragraphs and 41 current paragraphs.
33 unchanged; 5 reworded; 3 added; 3 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (3)
Current report
For the nine months ended June 30, 2025, we had a net income of $2,549,804, which consists of interest and dividends earned on cash and investments held in Trust Account of $3,875,873, offset by operational costs of $512,136 and provision for income taxes of $813,933.
Current report
For the three months ended June 30, 2024, we had a net income of $1,113,467, which consists of interest earned on marketable securities held in Trust Account of $1,504,700, offset by operational costs of $76,379 and provision for income taxes of $314,854.
Current report
For the nine months ended June 30, 2024, we had a net income of $831,330, which consists of interest earned on marketable securities held in Trust Account of $1,504,700, offset by operational costs of $358,516 and provision for income taxes of $314,854.
Removed paragraphs (3)
Previous report
For the three months ended March 31, 2024, we had a net loss of $194,646, which consists of operating costs.
Previous report
For the six months ended March 31, 2025, we had a net income of $1,731,194, which consists of interest and dividends earned on cash and investments held in Trust Account of $2,621,671, offset by operational costs of $339,926 and provision for income taxes of $550,551.
Previous report
For the six months ended March 31, 2024, we had a net loss of $282,137, which consists of operating costs.
Reworded paragraphs (5)
Previous wording
For the three months ended March 31, 2025, we had a net income of $824,126, which consists of interest and dividends earned on cash and investments held in Trust Account of $1,250,141, offset by operational costs of $163,485 and provision for income taxes of $262,530.
Current wording
For the three months ended June 30, 2025, we had a net income of $818,610, which consists of interest and dividends earned on cash and investments held in Trust Account of $1,254,202, offset by operational costs of $172,210 and provision for income taxes of $263,382.
Previous wording
For the six months ended March 31, 2025, cash used in operating activities was $1,119,424. Net income of $1,731,194 was affected by the interest and dividends earned on cash and investments held in Trust Account of $2,621,671 and change in operating assets and liabilities which used $228,947 of cash for operating activities.
Current wording
For the nine months ended June 30, 2025, cash used in operating activities was $1,260,781. Net income of $2,594,804 was affected by the interest and dividends earned on cash and investments held in Trust Account of $3,875,873 and change in operating assets and liabilities which used $65,288 of cash for operating activities.
Previous wording
For the six months ended March 31, 2024, cash used in operating activities was $181,868. Net loss of $282,137 was affected by the change in operating assets and liabilities that provided $100,269 of cash for operating activities.
Current wording
For the nine months ended June 30, 2024, cash used in operating activities was $767,109. Net income of $831,330 was affected by the interest earned on marketable securities held in trust account of $1,504,700 and change in operating assets and liabilities which used $93,739 of cash for operating activities.
Previous wording
As of March 31, 2025, we held cash and investments held in Trust Account of $120,299,544. The Trust Account can only be invested in U.S. government treasury obligations with a maturity of 185 days or less or interests in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act, which invest only in direct U.S. government treasury obligations. We may withdraw interest from the Trust Account to pay taxes, if any. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (less taxes payable), to complete our initial Business Combination. To the extent that our capital stock or debt is used, in whole or in part, as consideration to complete our initial Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.
Current wording
As of June 30, 2025, we held cash and investments held in Trust Account of $121,553,746. The Trust Account can only be invested in U.S. government treasury obligations with a maturity of 185 days or less or interests in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act, which invest only in direct U.S. government treasury obligations. We may withdraw interest from the Trust Account to pay taxes, if any. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (less taxes payable), to complete our initial Business Combination. To the extent that our capital stock or debt is used, in whole or in part, as consideration to complete our initial Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.
Previous wording
As of March 31, 2025, we had cash of $627,375. We intend to use the funds held outside the Trust Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.
Current wording
As of June 30, 2025, we had cash of $486,018. We intend to use the funds held outside the Trust Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.