IMAQ redemption — the window has closed
The honest answer to “how do I redeem IMAQ” is: you no longer can. The window closed on 2 September 2026, and what remains below is the record of the windows that existed.
IMAQ trades $1.92 below the $12.03 the company still holds per share. Read that as a trap, not a discount: a gap to trust is only money you can collect while the right to redeem exists, and here it does not. Nothing is holding this price up. What a floorless SPAC is →
The date the right to cash out ended.
As last filed, 30 June 2026. Still held by the company — no longer claimable by you.
Per share, at the 29 December 2024 event — a filed figure, not an estimate.
43.74M shares redeemed across every filed event — ≈100% of the earliest known float.
What happened to the redemption right
The right did not vanish — it expired on a dated filing, and this is the honest sequence.
A SPAC share’s protection is not the cash in trust; it is the holder’s right to demand that cash. International Media holders had that right at every vote — and at the final window on 2 September 2026, everyone who wanted the cash had to act. After it, the shares became ordinary shares: no contract pays trust value for them any more.
Why this page still exists: people search for how to redeem after the window closes, and the worst thing we could publish is a how-to that implies the right survives. What a floorless SPAC is, in plain English →
Every filed redemption event
6 eventsEach time holders were offered their cash back, some took it. Every figure below is stated in the linked filing; nothing here is estimated.
- Dec 29, 2024Extension70.3%
December 2024 Annual General Meeting (calendar 2024-12-29). Aggregate $7,919,296.
- Jan 2, 2024Extension48.92%
Special Meeting January 2, 2024 (calendar 2024-01-01; count also in 8-K).
- Jul 31, 2023Extension3.21%
Special Meeting July 31, 2023 (calendar 2023-07-30; count also in 8-K); redemption settled August 7, 2023 per 10-Q.
- Jan 27, 2023Extension91.42%
January 27, 2023 special meeting — 91.4% of public shares redeemed (10-Q).
- Aug 2, 2022Extensionno rate statedredeemed 0.169M sh0001213900-24-066528
- Jul 27, 2022Extensionno rate statedredeemed 20.86M sh0001213900-24-066528
In plain English
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.