secwatch.observer — SEC 8-K summary
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Issuer:     International Media Acquisition Corp. (IMAQ)
CIK:        0001846235
Form:       8-K
Filed at:   2025-04-22T23:59:59+00:00
Accession:  0001213900-25-034237
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IMAQ enters $300M equity line with White Lion Capital; contingent on VCI Biofuels deal closing
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- Equity line of up to $300M (option to $500M) with White Lion Capital; company may require investor to purchase common stock.
- Purchase price: lower of prior closing or 98% of 2-day VWAP; max $5M per regular purchase notice, subject to volume limits.
- Investor receives $1M in commitment shares, issued upon BCA Closing with VCI Biofuels Group; registration required within 30 days.
- Drawdowns begin after business combination closes; commitment period ends after 36 months or when $500M is reached.
- Conditions include effective registration, no material adverse change, and beneficial ownership cap of 4.99%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1846235/000121390025034237/0001213900-25-034237-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1846235/000121390025034237/ea0239100-8k425_intern.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-034237

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