AIB Acquisition Corporation announced that it has entered into an agreement for private placement of 355,000 units (or 388,750 units if the underwriters' over- allotment option is exercised in full) at a purchase price of $10.00 per unit for gross proceeds of $3,550,000 (or $3,887,500 if the underwriters' over- allotment option is exercised in full) on September 17, 2021. The transaction will include participation from returning investor AIB LLC for 317,500 units (up to a maximum of 28,125 additional private units if the over-allotment option is exercised by the underwriters in full or in part) and Maxim Group LLC for 37,500 units (up to a maximum of 5,625 additional private placement units if the over-allotment option is exercised by the underwriters in full or in part). Each unit consists of one Class A ordinary share and one right.

Each right entitles the holder thereof to receive one-tenth of one Class A ordinary share upon the consummation of an initial business combination. The placement units and their component securities will not be transferable, assignable or salable until 30 days after the consummation of our initial business combination. The transaction closing will occur simultaneously with the consummation of initial public offering.