AIB Acquisition Corporation
AIBBR
NASDAQ Global Market0.10
USD
-0.01
- -
CIK
0001882963
CUSIP
G0R45S117
Return %
Stock
S&P500
1Y
-28.87
18.21
3Y
-36.87
64.38
5Y
-36.87
72.43
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Eric Chen
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 875 Third Avenue New York City NY United States of America 10022
- IPO Date
- Feb 23, 2022
- CIK
- 0001882963
- Website
- aibspac.com
- Similar Companies
- Business
- AIB Acquisition Corporation (Nasdaq: AIBBR) operates as a special purpose acquisition company, or blank check company, whose principal business activity involves effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities, with an initial focus on the fintech industries; it provides no other significant products or services prior to completing such a transaction. Incorporated in 2021 as a Cayman Islands exempted company and headquartered in New York, New York, the company raised $75 million in its initial public offering in 2022, including the full exercise of the overallotment option, and commenced separate trading of its Class A ordinary shares and rights on February 23, 2022. In its most significant recent development, AIB completed a business combination with PS International Group Ltd. (PSI), a Hong Kong-based global logistics service provider specializing in cross-border air freight forwarding, ocean freight forwarding, and supply chain ancillary services connecting Asian hubs to the US and worldwide, on July 18, 2024, resulting in PSI's ordinary shares commencing trading on Nasdaq under the ticker PSIG on July 19, 2024; this reverse merger transaction valued PSI at an enterprise value of approximately $200-230 million and marked AIB's de-SPAC culmination. The company previously announced the merger agreement with PSI on December 27, 2023, filed a definitive proxy statement on June 24, 2024, and saw PSI ring the Nasdaq closing bell on July 22, 2024, with no subsequent major operational changes reported as AIB effectively became a wholly-owned subsidiary post-combination. Geographically, while AIB maintained a US focus from its New York base, the merger integrates PSI's operations centered in Hong Kong through subsidiaries Profit Sail Int'l Express (H.K.) Limited and Business Great Global Supply Chain Limited, targeting cross-border logistics markets.