NEW YORK, July 28, 2021 /PRNewswire/ -- International
Media Acquisition Corp. ("IMAC") announced today the pricing of its
initial public offering of 20,000,000 units at a price of
$10.00 per unit. The units will be
listed on The Nasdaq Capital Market ("NASDAQ") and trade under the
ticker symbol "IMAQU" beginning on July 29,
2021. Each unit consists of one share of common stock, one
right to receive one-twentieth (1/20) of one share of common stock
upon the consummation of an initial business combination, and one
redeemable warrant to purchase three-fourths (3/4) of one share of
common stock at a price of $11.50 per
whole share. After the securities comprising the units begin
separate trading, the shares of common stock, rights and warrants
are expected to be listed on NASDAQ under the symbols "IMAQ,"
"IMAQR" and "IMAQW," respectively. The offering is expected to
close on August 2, 2021.
Chardan is acting as sole book-running manager of the offering.
IMAC has granted the underwriters a 45-day option to purchase up to
an additional 3,000,000 units at the initial public offering price
to cover over-allotments, if any.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the "SEC") on July 28, 2021. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
The offering is being made only by means of a prospectus. When
available, copies of the prospectus relating to this offering may
be obtained by contacting Chardan, 17 State Street, 21st Floor,
New York, New York 10004, or by
calling (646) 465-9001. Copies of the registration statement can be
accessed through the SEC's website at www.sec.gov.
About International Media Acquisition
Corp.
IMAC is led by founder Shibasish Sarkar
(CEO). IMAC is a blank check company formed for the purpose
of effecting a business combination with one or more businesses.
Although there is no restriction or limitation on what industry or
geographic region its target operates in, IMAC intends to pursue
prospective targets in North
America, Europe and
Asia (excluding China) in the media and entertainment
industry. The proceeds of the offering will be used to fund such
business combination.
Cautionary Note Concerning Forward-Looking
Statements
This press release includes forward-looking
statements that involve risks and uncertainties. Forward looking
statements are statements that are not historical facts. Such
forward-looking statements, including the successful consummation
of IMAC's initial public offering and search for an initial
business combination, are subject to risks and uncertainties, which
could cause actual results to differ from the forward-looking
statements. IMAC expressly disclaims any obligations or undertaking
to release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in IMAC's
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
IMAC Contact:
Fatema Nagree
International Media Acquisition Corp.
+91 9867661126
fatema@imac.org.in
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SOURCE International Media Acquisition Corp.