International Media Acquisition Business Summary

International Media Acquisition Corp. (IMAQ) is a special purpose acquisition company (SPAC) currently transitioning from its initial focus on the media and entertainment sectors to the renewable energy industry through a definitive $1 billion merger agreement with VCI Biofuels Group. Upon the anticipated closing of the transaction, the combined entity will be renamed VI Energy and listed on the NASDAQ. The company’s future revenue model is centered on the production and distribution of bio-ethanol—including fuel ethanol, solvent alcohol, and food alcohol—primarily serving the Vietnamese and broader Southeast Asian markets. Primary business segments will include biofuel manufacturing and sustainable aviation fuel (SAF) development. In its current shell state, IMAQ competes for investor capital with other entertainment-linked entities such as Eros Media World, Falcon's Beyond Global, and Fitness Champs, though it is strategically positioning itself to compete with global renewable energy players like Gevo and Aemetis post-merger. The company is currently led by Yu-Fang Chiu, who serves as Chairperson, Chief Executive Officer, and Chief Financial Officer, bringing a background in strategic leadership from firms such as Joint Consulting CO., LTD and Insun Enterprise Co. The board of directors includes Hsu-Kao Cheng, a U.S. Certified Public Accountant and digital transformation expert who chairs the audit and compensation committees, and Tao-Chou Chang, a legal scholar with extensive judicial experience. The founding vision was originally spearheaded by former CEO Shibasish Sarkar, while the post-merger operational leadership will be bolstered by Navin Sidhu, the current CEO of VCI Biofuels Group. Notable institutional support includes the sponsor, Content Creation Media LLC, and financial backing from JC Unify Capital (Holdings) Limited and White Lion Capital LLC, the latter of which provides an equity line of credit of up to $500 million to support future growth.