IB Acquisition Corp.’s Quiet Period To End on May 6th (NASDAQ:IBACU)

IB Acquisition’s (NASDAQ:IBACU) quiet period will end on Monday, May 6th. IB Acquisition had issued 10,000,000 shares in its initial public offering on March 26th. The total size of the offering was $100,000,000 based on an initial share price of $10.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

IB Acquisition Price Performance

Shares of IB Acquisition stock opened at $10.05 on Monday. IB Acquisition has a twelve month low of $9.97 and a twelve month high of $10.06.

Hedge Funds Weigh In On IB Acquisition

An institutional investor recently bought a new position in IB Acquisition stock. Wealthspring Capital LLC purchased a new position in IB Acquisition Corp. (NASDAQ:IBACU) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 470,593 shares of the company’s stock, valued at approximately $4,711,000. IB Acquisition makes up about 5.6% of Wealthspring Capital LLC’s portfolio, making the stock its 5th biggest holding.

About IB Acquisition

IB Acquisition Corp. focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Boca Raton, Florida.