IB Acquisition Corp. (NASDAQ: IBACU), a publicly-traded special purpose acquisition company (SPAC), has declared that on May 1, 2024, its units, comprising common stock and rights, will automatically and mandatorily separate, allowing them to trade independently on the Nasdaq Global Market under the symbols IBAC and IBACR, respectively. Each unit includes one share of common stock and a right to receive one-twentieth of a share upon a successful initial business combination. The separation is automatic, requiring no action from unit holders. The company cautions that purchases made close to the separation date may not settle in time, potentially resulting in discrepancies in the number of rights allotted. IB Acquisition Corp. is established with the aim of conducting a business combination with target enterprises in North America, Europe, or Asia, targeting an enterprise value of about $500 million. This release also includes forward-looking statements; however, actual outcomes may vary due to numerous risk factors, including those described in risk factors associated with the company’s initial public offering.

Financials – Capital Markets – SPAC, Investment Services & Portfolio Management,North America, Europe, Asia