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IMAQ restructures merger with VCI: share purchase, reincorporation merger, and redomestication to BVI
On April 30, 2026, IMAQ entered into amended merger agreement with VCI Holdings, Vietnam Biofuels, EQN, Valix Limited, and Newbio Merger Limited.
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International Media Acquisition extends deadline by one month to April 2, 2026 with $2K deposit
Deposited $2,000 into trust account to extend business combination deadline from March 2 to April 2, 2026.
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International Media Acquisition Corp. enters into $3M promissory note and $499,900 loan for pending merger
Issued $3M unsecured promissory note to lender Wei-Hua Chang, convertible into units at $10.00 per unit before business combination close.
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IMAQ enters $1B SPAC merger with Vietnam Biofuels Development JSC
Aggregate consideration of $1,000,000,000 payable in 90M Class A and 10M Class B ordinary shares at $10.00/share.
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IMAQ CEO resigns; new CEO appointed; sponsor debt converted to shares; trust extended to April 2
Shibasish Sarkar resigned as CEO and Class I director effective March 11, 2025; not due to disagreement.
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SPAC IMAQ shareholders approve extension to Jan 2027; $2,000 monthly deposit required
Stockholders approved charter amendment extending business combination deadline up to 24 months to January 2, 2027.
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IMAQ shares suspended from Nasdaq, now OTC; director Jim Chen resigns
Yao Chin (Jim) Chen resigned from board effective Aug 6, 2024, with no disagreement.
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SPAC International Media Acquisition faces Nasdaq delisting; deposits $20k to extend deadline
Received Nasdaq delisting notice for failing to complete initial business combination within 36 months.
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IMAQ receives Nasdaq non-compliance notice for late annual report filing
Nasdaq notified IMAQ on July 9, 2024, of non-compliance with Listing Rule 5250(c)(1) for failing to file Form 10-K for period ended March 31, 2024.
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Three directors resign from International Media Acquisition Corp board including CEO/CFO nominee
Daung-Yen Lu resigned from board effective July 2, 2024, no disagreement.
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IMAQ issues $1M in promissory notes to JC Unify Capital; director Sanjay Wadhwa resigns
$530,000 Promissory Note B and $470,000 Promissory Note C issued to JC Unify Capital, totaling $1,000,000.
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International Media Acquisition Corp. board reduced from six to two after four directors resign
David M. Taghioff, Deepak Nayar, Klaas P. Baks, and Suresh Ramamurthi resigned from the Board effective December 17, 2023.
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International Media Acquisition Corp. receives Nasdaq deficiency notice for late Q3 10-Q
Received Nasdaq notice on Nov 29, 2023 for non-compliance with Listing Rule 5250(c)(1) due to unfiled Q3 2023 10-Q.
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IMAQ enters SPA to sell 75% of sponsor securities for $1; extends trust deadline to Dec 2
Buyer JC Unify Capital acquires 4,125,000 insider shares and 597,675 private placement units for $1.00 total.
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IMAQ's business combination with Reliance Entertainment Studios terminated by seller effective Oct 25
Seller Risee Entertainment Holdings terminated the Stock Purchase Agreement for IMAQ's acquisition of Reliance Entertainment Studios, effective Oct 25, 2023.