secwatch.observer — SEC 8-K summary
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Issuer:     International Media Acquisition Corp. (IMAQ)
CIK:        0001846235
Form:       8-K
Filed at:   2024-07-01T23:59:59+00:00
Accession:  0001654954-24-008382
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IMAQ amends promissory notes to allow conversion into common stock units before business combination
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- JC Unify Capital can convert prior notes into units of one common share plus one right to receive 1/20 share.
- Conversion price is $10.00 per unit; no fractional units will be issued.
- Conversion occurs immediately prior to closing of a business combination.
- Failure to issue conversion securities upon election is now an event of default.
- Amendments apply to three notes dated Jan 31, 2024 and Feb 27, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1846235/000165495424008382/0001654954-24-008382-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1846235/000165495424008382/imac_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-008382

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer