secwatch.observer — SEC 8-K summary
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Issuer:     International Media Acquisition Corp. (IMAQ)
CIK:        0001846235
Form:       8-K
Filed at:   2023-01-26T23:59:59+00:00
Accession:  0001104659-23-006778
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IMAQ enters loan agreement to fund SPAC extension; special meeting postponed to Jan 27
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- Sponsor borrows $385,541.10 initial loan + $128,513.70/month from lender, loans proceeds to IMAQ for trust account deposits.
- Lender receives 500k shares for initial loan and 166,700 shares per monthly loan; shares have no lock-up and will be registered.
- Special meeting postponed to Jan 27, 2023 9am ET; redemption deadline extended to 5pm ET Jan 26, 2023.
- Extension payments: $385,541.10 for 3-month extension, $128,513.70 for each subsequent monthly extension.
- Company clarifies trust account funds will not be used to pay excise taxes under Inflation Reduction Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1846235/000110465923006778/0001104659-23-006778-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1846235/000110465923006778/tm234495d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-006778

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