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SPAC · Deal announced · IBAC

IB Acquisition Corp.

Business combination with GNQ Insilico Inc.

IB Acquisition Corp. (IBAC) is a blank-check company (SPAC) that raised $100M in its initial public offering on Mar 27, 2024, listing on Nasdaq Global Market. It agreed to combine with GNQ Insilico Inc., announced on Mar 16, 2026, at a stated value of $500M. The deal has not closed yet. ArentFox Schiff advised the SPAC and Ellenoff Grossman & Schole advised the underwriters on the IPO.

GNQ Insilico Inc. is a TechBio company that applies artificial intelligence, quantum computing and biological modeling to drug discovery and development. Its three proprietary platforms include a Drug Assessment Platform that lets life science investors run due diligence using molecular profiling and predictive toxicity assessments.

Status
Deal announced
Ticker
IBAC
IPO date
Mar 27, 2024
IPO size
$100M
IPO exchange
Nasdaq Global Market
Target
GNQ Insilico Inc.
Target sector
Biotech
Announced
Mar 16, 2026
Stated deal value
$500M
Combined company
GNQ Insilico Inc. (IB Acquisition renamed) (GNQI)
SPAC counsel (IPO)
ArentFox Schiff
Underwriters' counsel (IPO)
Ellenoff Grossman & Schole

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