Form 8-K - Current report
August 05 2024 - 2:30PM
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
July 30, 2024
Date of Report (Date of earliest event reported)
International Media Acquisition Corp.
(Exact Name of Registrant as Specified in its Charter)
Delaware |
|
001-40687 |
|
86-1627460 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification No.) |
1604 US Highway 130
North Brunswick, NJ |
|
08902 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (212) 960-3677
N/A
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the Securities Act |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
Securities registered pursuant to Section 12(b)
of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name
of each exchange on which registered |
Common Stock |
|
IMAQ |
|
The Nasdaq Stock Market LLC |
Warrants |
|
IMAQW |
|
The Nasdaq Stock Market LLC |
Rights |
|
IMAQR |
|
The Nasdaq Stock Market LLC |
Units |
|
IMAQU |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 3.01 Notice of Delisting or Failure to
Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On July 30, 2024, International
Media Acquisition Corp. (the “Company”) received a notice from the staff of the Listing Qualifications Department of The Nasdaq
Stock Market LLC (“Nasdaq”) stating that as the Company had not completed an initial business combination within 36 months
of the effective date of its registration statement in connection with its initial public offering, it was not in compliance with Nasdaq
IM 5101-2 and was therefore subject to delisting. The Company has until August 6, 2024 to request a hearing before the Nasdaq Hearings
Panel (the “Panel”). If the Company does not request a hearing before the Panel by that date, trading in its securities will
be suspended at the opening of business on August 8, 2024 and a Form 25 NSE will be filed with the Securities and Exchange Commission
(“SEC”) removing the securities from listing and registration on The Nasdaq Stock Market. In the event the Company’s securities are delisted from Nasdaq, its securities are expected to trade over-the-counter. In such an
event, the Company intends to apply to list on Nasdaq in connection with the closing of a potential business combination.
In addition, as previously disclosed, on July
9, 2024, the Company received a notice from the Listing Qualifications Staff of Nasdaq, which stated that the Company was not in compliance
with Nasdaq Listing Rule 5250(c)(1) because it had not filed its Annual Report on Form 10-K for the period ended March 31, 2024 with the
SEC. Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the SEC. The
Form 10-K has not yet been filed. Pursuant to Listing Rule 5810(d)(2), this deficiency serves as an additional and separate basis for
delisting, and as such, the Company would be required to address this concern before the Panel if it appeals Staff’s determination
as well.
Item 8.01. Other Events
On August 5, 2024, the Company made a deposit of $20,000 to the trust account to extend the period of time the
Company has to consummate an initial business combination from August 2, 2024 to September 2, 2024.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: August 5, 2024
INTERNATIONAL MEDIA ACQUISITION CORP. |
By: |
/s/ Shibasish Sarkar |
|
Name: |
Shibasish Sarkar |
|
Title: |
Chief Executive Officer |
|
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