International Media Acquisition Corp. Overview
Pro stress-test →International Media Acquisition Corp. (IMAQ) is a Delaware-based blank check company focused on mergers, share exchanges, asset acquisitions, stock purchases, recapitalizations, reorganizations, or similar business transactions with one or more businesses or entities. The company completed its initial public offering on August 2, 2021, raising $230 million, which was placed in a trust account to be used for a business combination.
Strategic Profile
Pro stress-test →IMAQ has received a delisting notification from Nasdaq due to its failure to complete a business combination within 36 months of its IPO registration statement's effectiveness. The company has extended its deadline to complete a business combination multiple times, with the current deadline set for January 2, 2027, following stockholder approvals and charter amendments. A proposed business combination with Risee Entertainment Holdings Private Limited was terminated in October 2023 due to the failure to meet the closing date.
Competitive Landscape
Pro stress-test →IMAQ operates in the SPAC market but is not a competitive player—it is a blank-check company seeking an acquisition target, not a service provider or product company. Its competitive landscape is other SPACs and alternative vehicles for media/entertainment acquisition. No direct product competitors apply.
Key facts
Founded: 2021 · Headquarters: Miami, FL · Market cap: $70M