SPAC International Media Acquisition faces Nasdaq delisting; deposits $20k to extend deadline

International Media Acquisition Corp.

Received Nasdaq delisting notice for failing to complete initial business combination within 36 months.
Also non-compliant with filing rule due to unfiled FY2024 10-K; separate basis for delisting.
Trading suspension set for Aug 8, 2024 if hearing not requested by Aug 6, 2024.
On Aug 5, 2024 deposited $20,000 into trust to extend combination deadline to Sep 2, 2024.
Securities expected to trade OTC if delisted; company intends to reapply to Nasdaq upon closing a deal.

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