Home / Going-concern warnings / IB Acquisition Corp.
Filed 2025-12-29 路 Form 10-K 路 Accession 0001493152-25-029365 micro
Price before filing: $10.45 (2025-12-26 close, split/dividend-adjusted)
Market cap at flag: $60.0M (2025-12-29) 路 Latest: $8.2M (2026-10-16)
| Window | IBAC | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +1.0% | +0.7% | +0.2% | 2026-01-28 |
| 90 days | +2.5% | -8.2% | +10.7% | 2026-03-30 |
| 180 days | +3.3% | +7.9% | -4.7% | 2026-06-29 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider sold $3.2M (44 sales)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-09-30 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 29,734 | $10.51 | $313K | no | Form 4 |
| 2025-09-30 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 12,097 | $10.51 | $127K | no | Form 4 |
| 2025-09-30 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 8,649 | $10.51 | $91K | no | Form 4 |
| 2025-09-30 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 6,440 | $10.51 | $68K | no | Form 4 |
| 2025-09-30 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 5,690 | $10.51 | $60K | no | Form 4 |
| 2025-09-30 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 5,405 | $10.51 | $57K | no | Form 4 |
| 2025-09-30 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 2,235 | $10.51 | $23K | no | Form 4 |
| 2025-09-30 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 1,349 | $10.51 | $14K | no | Form 4 |
| 2025-09-30 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 488 | $10.51 | $5K | no | Form 4 |
| 2025-09-30 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 349 | $10.51 | $4K | no | Form 4 |
| 2025-09-30 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 228 | $10.51 | $2K | no | Form 4 |
| 2025-10-01 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 12,203 | $10.50 | $128K | no | Form 4 |
| 2025-10-01 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 4,964 | $10.50 | $52K | no | Form 4 |
| 2025-10-01 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 3,550 | $10.50 | $37K | no | Form 4 |
| 2025-10-01 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 2,643 | $10.50 | $28K | no | Form 4 |
| 2025-10-01 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 2,335 | $10.50 | $25K | no | Form 4 |
| 2025-10-01 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 2,218 | $10.50 | $23K | no | Form 4 |
| 2025-10-01 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 917 | $10.50 | $10K | no | Form 4 |
| 2025-10-01 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 554 | $10.50 | $6K | no | Form 4 |
| 2025-10-01 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 200 | $10.50 | $2K | no | Form 4 |
| 2025-10-01 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 143 | $10.50 | $2K | no | Form 4 |
| 2025-10-01 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 94 | $10.50 | $987 | no | Form 4 |
| 2025-10-02 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 1,800 | $10.50 | $19K | no | Form 4 |
| 2025-10-02 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 732 | $10.50 | $8K | no | Form 4 |
| 2025-10-02 | AQR Capital Management Holdings, LLC (+2 joint filers) 10% owner | Sale | 524 | $10.50 | $6K | no | Form 4 |
| 2025-12-29: red flag filed | |||||||
Showing 25 of 44 transactions.
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-09-30 to 2026-01-28. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"These conditions raise substantial doubt about the Company's ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-K (period 2025-09-30)
Read the original filing on SEC.gov →
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