---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-014498"
form_type: "8-K"
ticker: "IMAQ"
cik: "0001846235"
company_name: "International Media Acquisition Corp."
filed_at: "2023-11-16T23:59:59+00:00"
generated_at: "2026-06-08T01:27:18.444929+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# IMAQ enters SPA to sell 75% of sponsor securities for $1; extends trust deadline to Dec 2

## Summary
- Buyer JC Unify Capital acquires 4,125,000 insider shares and 597,675 private placement units for $1.00 total.
- SPAC trust account extended to December 2, 2023 via $128,513.70 deposit; trust now holds ~$21.75 million.
- Buyer to lend $1.3 million to SPAC at closing; existing officers/directors to be replaced by Buyer's designees.
- Sponsor securities include 5.5M insider shares and 796,900 private placement units; 75% transferred.
- Seller conditions include release agreements for liabilities up to $1.15M and payment of accrued expenses ~$961k.

## SEC filing metadata
- accession: 0001654954-23-014498
- form_type: 8-K
- ticker: IMAQ
- cik: 0001846235
- company_name: International Media Acquisition Corp.
- filed_at: 2023-11-16T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1846235/000165495423014498/0001654954-23-014498-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1846235/000165495423014498/imac_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-014498
- JSON: https://secwatch.observer/filing/0001654954-23-014498.json
- Plain text: https://secwatch.observer/filing/0001654954-23-014498.txt

## Key facts
- Material Agreements
  International Media Acquisition Corp. entered into Securities Purchase Agreement with JC Unify Capital (Holdings) Limited valued at $1.00 (effective 2023-11-10).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: JC Unify Capital (Holdings) Limited
  - Value: $1.00
  - Effective: 2023-11-10
  source text: On November 10, 2023, International Media Acquisition Corp., a Delaware corporation and a special purpose acquisition company (the “ Company ”), entered into a Securities Purchase Agreement (the “ Securities Purchase Agreement ”) with JC Unify Capital (Holdings) Limited, a BVI company (the “ Buyer ”), Content Creation Media LLC, a Delaware limited liability company ( “Sponsor” ), and Shibasish Sarkar, ( “Seller” , together with the Sponsor the “Sellers” ), pursuant to which (i) the Sponsor agreed to sell, and the Buyer agreed to purchase, 4,125,000 shares of common stock and 597,675 private placement units of the Company, which represents 75% of the total Company Securities owned by the Sponsor (“ Transferred Sponsor SPAC Securities ”) for an aggregate purchase price of $1.00 (the “ Closing Cash Purchase Price ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1846235/000165495423014498/0001654954-23-014498-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.