IB Acquisition Corp.’s Quiet Period Will Expire Tomorrow (NASDAQ:IBACU)

IB Acquisition’s (NASDAQ:IBACU) quiet period is set to end on Monday, May 6th. IB Acquisition had issued 10,000,000 shares in its 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 IB Acquisition’s quiet period, underwriters and any insiders involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

IB Acquisition Price Performance

IBACU stock opened at $10.05 on Friday. IB Acquisition has a fifty-two week low of $9.97 and a fifty-two week high of $10.06.

Institutional Trading of IB Acquisition

A number of hedge funds have recently modified their holdings of the business. Deltec Asset Management LLC bought a new stake in IB Acquisition in the first quarter worth $1,001,000. Wealthspring Capital LLC purchased a new stake in IB Acquisition during the 1st quarter valued at $4,711,000. Finally, Fifth Lane Capital LP bought a new stake in shares of IB Acquisition in the 1st quarter worth $3,002,000.

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.