International Media Acquisition Corp (IMAC), the SPAC being spearheaded by Shibasish Sarkar, CEO of Indian major Reliance Entertainment, has set an initial $200M public offering.The SPAC has backing from high-profile Indian entertainment figures and several leading media companies in the country.
It is aiming to begin acquiring film, TV and other media outfits in 2022, continuing the recent global trend of purpose-created acquisition companies in the creative landscape.
Its focus will primarily be initially in India but international deals are not being ruled out.IMAC will offer 20,000,000 units at a price of $10 per unit on the Nasdaq, trading under IMAQU, from July 29.
Read more on deadline.com
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