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International Media Acquisition Corp. (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 also failed to timely file its Form 10-K for the year ended March 31, 2024. If delisted, IMAQ's securities are expected to trade over-the-counter. However, IMAQ intends to apply for Nasdaq listing in connection with a potential future business combination.
Despite the delisting notice, IMAQ has deposited $20,000 into its trust account to extend the deadline for completing an initial business combination from August 2, 2024, to September 2, 2024. The company emphasizes that the delisting of the SPAC should not prevent a combined entity from receiving initial listing approval on Nasdaq, assuming it meets the typical deSPAC company requirements.
Reliance Entertainment has announced a robust slate of upcoming shows as part of its streaming strategy. Known for hits like Netflix's “Sacred Games,” the company has greenlit 10 new shows and has four in production. Since entering the streaming space in 2018, it has produced 13 shows, including collaborations with major platforms like Disney+ Hotstar and Amazon Prime Video. Upcoming projects include 'Indian Police Force' and 'Jubilee,' among others. Reliance aims to create original content and adaptations in partnerships with creative talents, promising various engaging stories for a global audience.
International Media Acquisition Corp. (IMAQ) announced an extension of its deadline to finalize a business combination with Reliance Entertainment Studios and Risee Entertainment Holdings. The new deadline is May 2, 2023, with the option for additional one-month extensions until August 2, 2023. To support this extension, Content Creation Media LLC, the company's sponsor, will deposit
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