International Media Acquisition Corp. entered into an amended and restated merger agreement with VCI Holdings, Ethanol Quang Nam, Vietnam Biofuels Development, Valix Limited and Newbio Merger Limited. The structure now includes a share purchase, a reincorporation merger and a redomestication to the British Virgin Islands.
VCI shareholders will sell all of their equity in exchange for 98,000,000 Purchaser Class A Ordinary Shares and 2,000,000 Purchaser Class B Ordinary Shares, plus additional closing, debt and commitment shares described in the agreement. Afterward, IMAQ will merge into a Purchaser subsidiary, and the surviving company will convert to a BVI business company.
Certain shareholders may earn up to 27,000,000 additional Purchaser Class A Ordinary Shares based on future share price, revenue and dividend milestones. Closing remains subject to shareholder approvals, effectiveness of a registration statement, regulatory clearances and other customary conditions, with no representations and warranties surviving closing.
International Media Acquisition Corp. entered into an amended and restated merger agreement with VCI Holdings, Ethanol Quang Nam, Vietnam Biofuels Development, Valix Limited and Newbio Merger Limited. The structure now includes a share purchase, a reincorporation merger and a redomestication to the British Virgin Islands.
VCI shareholders will sell all of their equity in exchange for 98,000,000 Purchaser Class A Ordinary Shares and 2,000,000 Purchaser Class B Ordinary Shares, plus additional closing, debt and commitment shares described in the agreement. Afterward, IMAQ will merge into a Purchaser subsidiary, and the surviving company will convert to a BVI business company.
Certain shareholders may earn up to 27,000,000 additional Purchaser Class A Ordinary Shares based on future share price, revenue and dividend milestones. Closing remains subject to shareholder approvals, effectiveness of a registration statement, regulatory clearances and other customary conditions, with no representations and warranties surviving closing.
International Media Acquisition Corp. has extended the deadline to complete its initial business combination by one month. On April 27, 2026, the company deposited $2,000 into its trust account, as an extension payment under its Investment Management Trust Agreement.
This payment moves the applicable deadline for closing a business combination from May 2, 2026 to June 2, 2026. According to the accompanying extension letter, this is the 17th of up to twenty-four one‑month extensions available, allowing the SPAC additional time to identify and consummate a target transaction.
International Media Acquisition Corp. has extended the deadline to complete its initial business combination by one month. On April 27, 2026, the company deposited $2,000 into its trust account, as an extension payment under its Investment Management Trust Agreement.
This payment moves the applicable deadline for closing a business combination from May 2, 2026 to June 2, 2026. According to the accompanying extension letter, this is the 17th of up to twenty-four one‑month extensions available, allowing the SPAC additional time to identify and consummate a target transaction.
International Media Acquisition Corp. deposited $2,000 into its trust account to obtain a one-month extension of the deadline to complete its initial business combination. The period to consummate a transaction is extended from April 2, 2026 to May 2, 2026 under its existing Trust Agreement. An accompanying extension letter notes that this is the 16th of up to 24 permitted one-month extensions.
International Media Acquisition Corp. deposited $2,000 into its trust account to obtain a one-month extension of the deadline to complete its initial business combination. The period to consummate a transaction is extended from April 2, 2026 to May 2, 2026 under its existing Trust Agreement. An accompanying extension letter notes that this is the 16th of up to 24 permitted one-month extensions.
International Media Acquisition Corp. extended its deadline to complete an initial business combination by one month. On February 25, 2026, the company deposited $2,000 into its trust account to move the deadline from March 2, 2026 to April 2, 2026.
The accompanying extension letter to Continental Stock Transfer & Trust Company notes this is the 15th of up to 24 possible monthly extensions under the company’s Investment Management Trust Agreement.
International Media Acquisition Corp. extended its deadline to complete an initial business combination by one month. On February 25, 2026, the company deposited $2,000 into its trust account to move the deadline from March 2, 2026 to April 2, 2026.
The accompanying extension letter to Continental Stock Transfer & Trust Company notes this is the 15th of up to 24 possible monthly extensions under the company’s Investment Management Trust Agreement.
International Media Acquisition Corp. reported another quarterly loss while continuing to search for a merger partner and manage an extended SPAC timeline. For the nine months ended December 31, 2025, the company posted a net loss of $276,636 and basic and diluted loss per share of $0.04.
Cash had fallen to $0 with a working capital deficit of $7,117,454, while the trust account held $3,417,684. Management disclosed substantial doubt about the company’s ability to continue as a going concern and highlighted that its securities were delisted from Nasdaq and now trade over the counter. The filing also describes a proposed $1,000,000,000 business combination with VCI Holdings Limited and Vietnam Biofuels Development Joint Stock Company and a potential equity line of up to $300,000,000–$500,000,000 to fund the combined business, both subject to closing conditions.
International Media Acquisition Corp. reported another quarterly loss while continuing to search for a merger partner and manage an extended SPAC timeline. For the nine months ended December 31, 2025, the company posted a net loss of $276,636 and basic and diluted loss per share of $0.04.
Cash had fallen to $0 with a working capital deficit of $7,117,454, while the trust account held $3,417,684. Management disclosed substantial doubt about the company’s ability to continue as a going concern and highlighted that its securities were delisted from Nasdaq and now trade over the counter. The filing also describes a proposed $1,000,000,000 business combination with VCI Holdings Limited and Vietnam Biofuels Development Joint Stock Company and a potential equity line of up to $300,000,000–$500,000,000 to fund the combined business, both subject to closing conditions.
International Media Acquisition Corp. filed an update explaining that it has extended the deadline to complete its first business combination. On January 28, 2026 the company deposited $2,000 into its trust account as an extension payment. This moves the deadline to close an initial business combination from February 2, 2026 to March 2, 2026, giving the company an additional month to pursue a suitable transaction.
International Media Acquisition Corp. disclosed that on December 29, 2025 it deposited $2,000 into its trust account as an extension payment. This payment extends the deadline for the company to complete its initial business combination from January 2, 2026 to February 2, 2026. The filing also references an extension letter as an exhibit that outlines the terms of this one-month extension.
International Media Acquisition Corp. disclosed that on December 29, 2025 it deposited $2,000 into its trust account as an extension payment. This payment extends the deadline for the company to complete its initial business combination from January 2, 2026 to February 2, 2026. The filing also references an extension letter as an exhibit that outlines the terms of this one-month extension.
International Media Acquisition Corp. (IMAQ) filed its quarterly report detailing a small loss and continued pursuit of a business combination while operating with limited liquidity.
Results and liquidity: Net loss was $96,967 for the quarter and $217,047 for the six months ended September 30, 2025. Cash was $0 with a working capital deficit of $7,049,524. Investments held in the trust account were $3,421,657. Total liabilities were $15,200,159, including an $8,050,000 deferred underwriting fee, resulting in a stockholders’ deficit of $15,083,215. Management disclosed “substantial doubt” about the ability to continue as a going concern.
Capital and structure: Common stock subject to possible redemption was 289,694 shares at a $3,381,442 redemption value. As of November 13, 2025, 6,836,594 common shares were issued and outstanding.
Transactions and plans: IMAQ signed a Merger Agreement to acquire VCI Holdings Limited and Vietnam Biofuels Development JSC, with aggregate consideration of $1,000,000,000 in 90,000,000 Class A and 10,000,000 Class B shares. It also entered a common stock purchase (equity line) agreement of up to $300,000,000, with an option to increase to $500,000,000, subject to an effective resale registration. Multiple unsecured, non‑interest promissory notes are outstanding and convertible into units.
Other: Trading was suspended on Nasdaq on August 8, 2024 and the securities now trade on OTC markets. The charter extension allows up to January 2, 2027 to complete a deal.
International Media Acquisition Corp. (IMAQ) filed its quarterly report detailing a small loss and continued pursuit of a business combination while operating with limited liquidity.
Results and liquidity: Net loss was $96,967 for the quarter and $217,047 for the six months ended September 30, 2025. Cash was $0 with a working capital deficit of $7,049,524. Investments held in the trust account were $3,421,657. Total liabilities were $15,200,159, including an $8,050,000 deferred underwriting fee, resulting in a stockholders’ deficit of $15,083,215. Management disclosed “substantial doubt” about the ability to continue as a going concern.
Capital and structure: Common stock subject to possible redemption was 289,694 shares at a $3,381,442 redemption value. As of November 13, 2025, 6,836,594 common shares were issued and outstanding.
Transactions and plans: IMAQ signed a Merger Agreement to acquire VCI Holdings Limited and Vietnam Biofuels Development JSC, with aggregate consideration of $1,000,000,000 in 90,000,000 Class A and 10,000,000 Class B shares. It also entered a common stock purchase (equity line) agreement of up to $300,000,000, with an option to increase to $500,000,000, subject to an effective resale registration. Multiple unsecured, non‑interest promissory notes are outstanding and convertible into units.
Other: Trading was suspended on Nasdaq on August 8, 2024 and the securities now trade on OTC markets. The charter extension allows up to January 2, 2027 to complete a deal.
International Media Acquisition Corp. (IMAQ) deposited $2,000 into its trust account to extend the deadline to complete an initial business combination from November 2, 2025 to December 2, 2025.
This short extension gives the company additional time to finalize a potential transaction under its SPAC structure. The payment and new date were disclosed under “Other Events,” and an Extension Letter was filed as an exhibit.
International Media Acquisition Corp. (IMAQ) deposited $2,000 into its trust account to extend the deadline to complete an initial business combination from November 2, 2025 to December 2, 2025.
This short extension gives the company additional time to finalize a potential transaction under its SPAC structure. The payment and new date were disclosed under “Other Events,” and an Extension Letter was filed as an exhibit.