International Media Acquisition priced its IPO of 20 million units at $10 each.
Units begin listing today on the Nasdaq under IMAQU. Each consists of one share of common stock, one right to receive one-twentieth of one share of stock and one redeemable warrant to purchase three-fourths of one share at $11.50 per whole share. After the securities begin separate trading, shares, rights and warrants are expected to list under IMAQ, IMAQR and IMAQW, respectively.
The offering is expected to close Aug. 2.
The SPAC will focus on North America, Europe and Asia for target companies within the media and entertainment sector, especially companies engaged in digitally available content.
Chardan is sole book-running manager of the offering. Tthe underwriters have an over-allotment option to purchase up to an additional 3 million units. Read more.
