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International Media Acquisition Corp. *

International Media Acquisition Corp. *

Apr 7, 2021 by Nat Judge

The below-announced combination was terminated on 10/31/23.  It will remain on the page for reference purposes only. Once a new combination is announced it will be added to the top of the page.

PROPOSED BUSINESS COMBINATION: Reliance Entertainment Studios Private Limited [Terminated]

ENTERPRISE VALUE: TBD
ANTICIPATED SYMBOL: tbd

International Media Acquisition Corp. proposes to combine with Reliance Entertainment Studios Private Limited, a company incorporated in India.

EXTENSION – 12/30/24 – LINK

  • The SPAC approved the extension from January 2, 2025 to January 2, 2027.
    • 685,836 shares were redeemed.
    • $2K per month will be deposited into the trust account.

SUBSEQUENT EVENT – 11/16/23 – LINK

  • The SPAC entered into a Securities Purchase Agreement with JC Unify Capital (Holdings) Limited, Content Creation Media LLC (“Sponsor”), and Shibasish Sarkar (“Seller”, together with the Sponsor the “Sellers”), pursuant to which
    • (i) the Sponsor agreed to sell, and the Buyer agreed to purchase, 4,125,000 shares of common stock and 597,675 private placement units of the Company, which represents 75% of the total Company Securities owned by the Sponsor (“Transferred Sponsor SPAC Securities”) for an aggregate purchase price of $1.00, and
    • (ii) the closing of the transactions contemplated by the Securities Purchase Agreement shall take place as soon as practicable after signing of the Securities Purchase Agreement, on such time and date as may be mutually agreed by the Buyer and the Sellers.

EXTENSION – 1/8/24 – LINK

  • The SPAC approved the extension from January 2, 2024 to January 2, 2025.
    • 934,193 shares were redeemed.
    • $20K per month will be deposited into the trust account.

EXTENSION – 8/3/23 – LINK

  • The SPAC approved the extension from August 2, 2023 to August 2, 2024.
    • 63,395 shares were redeemed for $10.92 per share.
    • $128,513.70 per month will be deposited into the trust account.

EXTENSION – 2/2/23 – LINK

  • The SPAC approved the extension from February 2, 2023 to May 2, 2023, with an ability to further extend by three (3) additional one (1) month periods until August 2, 2023.
    • It will deposit $385,541.10 for the three-month extension and $128,513.70 for each subsequent one-month extension.
    • IMAQ’s stockholders elected to redeem an aggregate 168,777 shares of common stock at the meeting.

EXTENSION – 10/28/22 – LINK

  • On October 28, 2022, International Media Acquisition Corp. announced that it has deposited into the Company’s trust account $350,000, in order to extend the period of time the Company has to complete a business combination for an additional 3 months, or from November 2, 2022, to February 2, 2023, pursuant to the terms of the Company’s investment management trust agreement, dated July 28, 2021, as amended on July 26, 2022.

EXTENSION – 7/26/22 – LINK

  • As approved by its stockholders at the Special Meeting of Stockholders held on July 26, 2022, the Company extended the time to complete a business combination from July 28, 2022, to January 28, 2023, by depositing into the Company’s trust account $350,000 for each three-month extension.
  • The Company’s stockholders elected to redeem an aggregate of 20,858,105 shares in connection with the Special Meeting.

TRANSACTION

  • International Media Acquisition Corp. entered into a Stock Purchase Agreement with Risee Entertainment Holdings Private Limited (“Seller”), and Reliance Entertainment Studios Private Limited (the “Target Company”).
  • In accordance with the terms and subject to the conditions of the SPA, the Seller shall, in exchange for the consideration set forth below, sell shares of the Target Company, free and clear of all liens, excepting only restrictions on the subsequent transfer of the Company Shares by IMAQ, IMAQ’s organizational documents, and the Shareholders’ Agreement.
  • Such purchases shall be made as follows:
    • Tranche 1: IMAQ shall purchase and Seller shall sell 3,920 Company Shares at the initial closing of the Stock Acquisition which shall occur within four days of the satisfaction or waiver of the closing conditions set forth in the SPA, which shares shall represent 39.20 % of the fully diluted equity ownership of the Target Company as of the date of the Initial Closing, for the higher of:
      • (i) the fair market value of the Tranche 1 Company Shares determined in accordance with the requirements of the Foreign Exchange Management Act, 1999, of the Republic of India (the “FEMA”), or
      • (ii) $40,000,000
    • Tranche 2: IMAQ shall purchase and Seller shall sell 1,570 Company Shares on or prior to the 90th day following the Initial Closing for the higher of:
      • (i) the fair market value of the Tranche 2 Company Shares determined in accordance with the requirements of the FEMA, or
      • (ii) $16,000,000 (and simultaneously, IMAQ shall also infuse $4,000,000 as primary equity capital into the Target Company and be issued common equity shares in the Target Company against such subscription amount, or, alternatively, IMAQ may also infuse this amount as a loan to the Target Company in accordance with applicable laws), which shares shall (together with the shares purchased Tranche 1 above) represent 54.90% of the fully diluted equity ownership of the Target Company as of such Additional Closing
    • Tranche 3: IMAQ shall purchase and Seller shall sell 1,960 Company Shares on or prior to 12 months from the Initial Closing for the higher of:
      • (i) the fair market value of the Tranche 3 Company Shares determined in accordance with the requirements of the FEMA, or
      • (ii) $20,000,000 (and simultaneously, IMAQ shall also infuse $20,000,000 as primary equity capital into the Target Company and be issued common equity shares in the Target Company against such subscription amount, or, alternatively, IMAQ may also infuse this amount as a loan to the Target Company in accordance with applicable laws), which shares shall (together with the shares purchased and subscribed Tranche 1 and Tranche 2 above, as the case may be) represent 74.50% of the fully diluted equity ownership of the Target Company as of such Additional Closing
    • Tranche 4: IMAQ shall purchase and Seller shall sell 2,550 Company Shares on or prior to 18 months from the Initial Closing for the higher of:
      • (i) the fair market value of the Tranche 4 Company Shares determined in accordance with the requirements of the FEMA, or
      • (ii) $26,000,000 (and simultaneously, IMAQ shall also infuse $14,000,000 as primary equity capital into the Target Company and be issued common equity shares in the Target Company against such subscription amount, or, alternatively IMAQ may also infuse this amount as a loan to the Target Company in accordance with applicable Laws), which shares shall (together with the shares purchased and subscribed under Tranche 1, Tranche 2, and Tranche 3 above, as the case may be) represent 100% of the fully diluted equity ownership of the Target Company as of such Additional Closing.

PIPE

  • There is no PIPE for this Transaction.

DEFAULT OF ADDITIONAL PURCHASE AND SUBSCRIPTION OBLIGATIONS

  • In the event that IMAQ defaults/fails:
    • (i) to consummate the Additional Closings as contemplated under the SPA,
    • (ii) to make the infusion of primary investment or loan of $38,000,000 in the Target Company,
    • (iii) to ensure that the Target Company repays the Existing Inter-Company Loans, in each case, in accordance with the time periods specified in the SPA, for any reason whatsoever (including on account of delay or failure in obtaining any approval from any Authority or non-fulfillment of any other condition mentioned in the SPA and the other agreements related thereto (the “Additional Agreements”)), the following consequences shall follow, without prejudice to the other rights and remedies of the Seller provided for under the SPA and the Additional Agreements:
      • (A) the Seller shall have the right to seek specific performance and in the event that such specific performance is not enforceable or available under any provision of applicable law, IMAQ shall be liable to pay damages to the Seller on account of the default/breach committed by IMAQ.
      • (B) the Seller shall have an unfettered right to transfer, sell, dispose, and/or create liens on all or any of the Company Shares held by it.
      • (C) the Seller shall have affirmative vote rights with respect to the matters specified in the Shareholders’ Agreement.
      • (D) if any default as stipulated under the SPA has not been cured by IMAQ within a period of 18 months of the Initial Closing, the Seller shall have the right to appoint majority of the directors on the board of directors of the Target Company upon completion of such 18 month period, provided that IMAQ shall continue to have the right to nominate one director or observer on the Board, as long as IMAQ holds at least 10% of the total share capital of the Target Company as determined on a fully diluted basis, and further provided that if:
        • (i) the Seller has transferred, sold, disposed of and/or created any liens on all (and not some) of the Company Shares held by it, and
        • (ii) IMAQ has completed the purchase of more than 75% of the Company Shares, the Board shall be reconstituted in a manner which reflects the inter se shareholding percentages of the stockholders of the Target Company, however, the transferee of the Seller’s transferred Company Shares shall continue to have the right to nominate one director or observer on the Board, as long as such transferee holds at least 10% of the total share capital of the Target Company, and, further, IMAQ shall have certain affirmative vote rights with respect to the matters specified in the Shareholders’ Agreement; and
      • (E) if any default has not been cured by IMAQ within a period of 21 months of the Initial Closing and IMAQ has not completed the purchase of more than 75% of the Company Shares, at the option of the Seller:
        • (i) all the rights of IMAQ under the SPA and the Additional Agreements shall fall away and cease to exist, and
        • (ii) all the liabilities, obligations, and responsibilities of the Seller under the SPA and the Additional Agreements shall fall away and cease to exist other than the right of IMAQ to nominate one director on the Board of the Target Company, as long as IMAQ holds at least 10% of the total share capital of the Target Company as determined on a fully diluted basis; provided, however, that if the Seller has transferred, sold, or disposed of all (and not some) of the Company Shares, the transferee of the Seller’s transferred Company Shares and IMAQ shall mutually discuss and agree on the affirmative vote rights which may be available to IMAQ with respect to the matters specified in the Shareholders’ Agreement.

LOCK-UP

  • Seller, the Target Company and IMAQ entered into a Shareholders’ Agreement, pursuant to which the parties agreed neither the Seller nor IMAQ shall be entitled to transfer, sell or create any encumbrance on all or any of the Company Shares held by it, except with the prior written consent of the other party and/or other than as contemplated under the SPA; provided, however, that IMAQ shall be entitled to create any encumbrance on the Company Shares held by it for the purpose of availing financing to, or in the ordinary course of business of IMAQ.

EARNOUT

  • The Seller, IMAQ and the Target Company entered into an Earnout Agreement, pursuant to which, during the period from and after the first anniversary of the Initial Closing until the third anniversary of the Initial Closing (the “Earnout Period”), up to $17,500,000 of the consideration for the Stock Acquisition will be paid to the Seller by the Target Company upon the achievement of certain trading prices of the common stock of IMAQ as follows:
    • (a) The Seller shall be entitled to receive, and the Target Company shall be obligated to pay, an INR amount equivalent to $7,500,000 at such time as the weighted average share price of the shares IMAQ on Nasdaq, for a period of 10 trading days over any 20 consecutive trading days during the Earnout Period, is greater than or equal to $15.00 per share.
    • (b) the Seller shall be entitled to receive, and the Target Company shall be obligated to pay, an INR amount equivalent to $10,000,000 at such time as the weighted average share price of the shares of IMAQ on Nasdaq, for a period of 10 trading days over any 20 consecutive trading days during the Earnout Period, is greater than or equal to $20.00 per share Any Earnout that is not earned on or before the expiration of the Earnout Period shall be forfeited.

NOTABLE CONDITIONS TO CLOSING

  • The consummation of the Initial Closing and any Additional Closing is conditioned upon IMAQ having at least $5,000,000 in Net-Tangible Assets at Closing.

NOTABLE CONDITIONS TO TERMINATION

  • Either the Seller or IMAQ may terminate the SPA at any time prior to the Initial Closing in the event that the Initial Closing has not occurred by the six-month anniversary of the date of the SPA (the “Outside Closing Date”).
  • In the event that an Authority shall have issued an order or enacted a law, having the effect of permanently restraining, enjoining or otherwise prohibiting the Stock Acquisition, which order or law is final and non-appealable, IMAQ or Seller shall have the right, at its sole option, to terminate the SPA without liability to the other party.

ADVISORS

  • No Advisors have been listed at this time.

MANAGEMENT & BOARD

Executive Officers

Shibasish Sarkar, 49
Chairman of the Board and Chief Executive Officer

Mr. Sarkar has extensive experience of over 27 years in the media industry. Mr. Sarkar has been handling multiple verticals across films, television, animation, gaming content and operations of digital and new media platforms. Since January 2019, Mr. Sarkar has been the Group CEO at Reliance Entertainment and was Group COO from September 2015 to December 2018. Reliance Entertainment is a part of the Reliance ADA Group, a leading private sector business serving over 250 million customers across financial services, infrastructure, power, telecommunications, media and entertainment, and healthcare sectors. Mr. Sarkar is also a member of the senior leadership team of Reliance ADA Group and serves as a director on the board of various Reliance ADA Group companies. Mr. Sarkar has hands-on experience and domain expertise within geographic markets of India, UK, and China, having helmed the distribution and production of hundreds of films having collaborated with the leading filmmakers & actors of Indian film industry. Mr. Sarkar has been a pioneer in producing digital content with clients across major OTT and TV Video-On-Demand platforms like Netflix, Amazon Prime Video, Disney+ Hotstar and SonyLIV. Mr. Sarkar has set up a marquee roster of showrunners and directors, delivering shows worth $22 million in the preceding 24 months through multiple shows contracted with streaming platforms with an aggregate value in the pipeline of approximately $80 million.

Vishwas Joshi, 56
Chief Financial Officer

Mr. Joshi is a certified cost accountant having over 28 years of experience in the fields of media and entertainment, consumer goods and manufacturing services. Until recently, Mr. Joshi was associated with Walt Disney Company India in the capacity of executive director and head of studio finance from June 2007 to September 2020. Mr. Joshi has also worked with Sahara One Media and Entertainment, Capital Foods, Tata Oil Mills, CEAT and Batliboi accounting firm. Mr. Joshi’s expertise is spread across finance, accounts (India and US standards), treasury, audits, business planning and strategy and general management. Mr. Joshi has expertise in M&A transactions and post-merger integrations. Mr. Joshi was employed with UTV during the time Disney acquired 100% stake in UTV, and he was extensively involved in the transaction. After the aforesaid acquisition, Mr. Joshi continued as head of studio finance for UTV Studio and Walt Disney Studio India. Subsequently, he was also involved in the transaction relating to Disney acquiring Fox Star Studio and continued as head of studio finance for UTV/ Disney/Fox.

Board of Directors

Ming-Hsien Hsu, 43 [Appointed]
Independent Director 

Mr. Cheng has served as the Chairman of TheMoonGroup since 2018, where he is responsible for charging of company operations in accordance with the law and is responsible for handling various organizational business. Mr. Cheng has been the Chairman of the Taipei Digital Asset Business Association since 2023. Since July 2018, Mr. Cheng has served as an entrepreneurship consultant for Taiwan’s Small and Medium Enterprises Division of the Ministry of Economic Affairs. During his tenure, Mr. Cheng is responsible for assisting aspiring entrepreneurs and new business owners from 0 to 1 entrepreneurial stage to solve difficulties in their business stages. Since 2022, Mr. Cheng has served as a digital transformation expert at the Digital Transformation Institute of the Information Strategy Foundation, where he promotes the digital transformation of small and medium-sized manufacturing industries, assists in proposing new models, new products and new services, and develops digital transformation guidance guidelines. Mr. Cheng is also a part-time lecturer at the Promotion Department of the Chinese Culture University, CCU and at the Industrial Promotion Office of Mingchuan University, since July 2022 and June 2022, respectively. Mr. Cheng obtained his Master’s degree in accounting and Bachelor’s degree in accounting at the National Chengchi University (NCCU) in 2018 and 2012, respectively. Mr. Cheng is a United States Certified Public Accountant (CPA) and Certified Anti-Money Laundering Specialist (CAMS).

Tao-Chou Chang, 53 [Appointed]
Independent Director 

Mr. Chang has over two decades of experience in the legal field, holding various judicial and professorial positions from 2000 to 2023. Mr. Chang established and is a Solo Practitioner Lawyer at Tao-Chou Chang Law Office since September 2023. He was previously a trial Judge at Taiwan High Court from September 2022 to August 2023. During his tenure, he reviewed lower court decisions and tried appellate cases. Mr. Chang was an administrative Judge at Judicial Yuan Criminal Department from September 2019 to August 2022, where he supervised Taiwan’s judicial administration of criminal courts. He was awarded commendations twice by the Judicial Yuan in 2002 and 2010. The Judicial Yuan published his research “Juvenile Delinquency with respect to Intellectual Property Infringements”, “The Participation of Indigenous People in Criminal Trials,” and “The System of Assigned Defenders” in 2013, 2017 and 2020 respectively. Mr. Chang served as a Judge at the Taiwan High Court Taichung Branch Court from 2018 to 2019. He previously served as the Division Chief Judge in Taiwan Taichung District Court from 2016 to 2018, and from 2014 to 2016, Mr. Chang served as the Division Chief Judge in Taiwan Chiayi District Court. Mr. Chang served as a Judge in the Taiwan Chiayi District Court from 2000 to 2014. Mr. Chang served as an Adjunct Assistant Professor at the National Chung Hsing University and the National Chung Cheng University from 2017 to 2018 and 2014 to 2016, respectively. He also served as a Lecturer at the National Chiayi University in 2006. Mr. Chang obtained his PhD in Law and LLM in Intellectual Property Law from the University of Washington in 2013 and 2004, respectively. He obtained his Master of Laws and Bachelor of Laws from the National Taiwan University in 2001 and 1993, respectively. He served as Second Lieutenant in the Air Force of Republic of China, Taiwan from 1994 to 1996. Mr. Chang is a licensed attorney in Taiwan.

Hsu-Kao Cheng, 33 [Appointed]
Independent Director 

 Since July 2024, Mr. Hsu has served as Vice President at Cathay United Bank Co., Ltd. At present, he is responsible for meeting the financial and investment needs of High Net Worth Individuals (HNWI). From March 2024 to May 2024, he served as CFO of Taijia Development and Construction Co., Ltd. During his tenure, he was responsible for financial budget review, fund flows management, review of financial statements and financial internal control system. From March 2023 to February 2024, Mr. Hsu served as Assistant Vice President at O-Bank Co., Ltd. During his tenure, he was responsible for helping corporate clients obtain working capital, invest in financial products and complete project financing. From November 2022 to March 2023, Mr. Hsu served as a Vice President at KGI Bank., Co., Ltd. During his tenure, he was responsible for helping corporate clients obtain working capital, invest in financial products and complete project financing. From September 2018 to September 2022, Mr. Hsu served as an Assistant Vice President at Taishin International Bank Co., Ltd. During his tenure, he was responsible for helping corporate clients obtain working capital, invest in financial products and complete project financing. From August 2012 to September 2018, Mr. Hsu served as a Deputy Manager at Far Eastern International Bank Co., Ltd. Mr. Hsu began his career at Ta Chong Commercial Bank Co., Ltd where he served as junior manager from April 2007 to June 2012. Mr. Hsu obtained his master’s degree in business administration from the National Cheng Kung University in 2005. He obtained his Bachelor of Business Administration from Tamkang University in 2002.

Sanjay Wadhwa, 54 [Resigned 2/27/24]
Director 

Since 1993, Mr. Wadhwa has been the Managing Partner of AP International Group, established in 1958, now one of the oldest film studios in southern India. AP International Group has been involved in film financing, acquisition, distribution, and handling of over 1000 films since its inception. Mr. Wadhwa, with over 35 years of experience in the field of Indian media and entertainment industry, has expertise in film financing, international distribution and syndication, digital media services platform and content production. Mr. Wadhwa is a well-known media personality in Southern India and within the Tamil, Telugu, and Malayalam speaking markets in Middle East, North America and South-East Asia, with notable contribution to trade and film exporting organizations. Mr. Wadhwa has been a member of the Entrepreneurs Organization, Chennai since 2000 and was the second Indian to be on the global board of Entrepreneurs Organization, Alexandria, Virginia, USA (2014 to 2017). Mr. Wadhwa also serves as a director on the board of Phonographic Digital Limited and was also the former director in Recorded Music Performance Ltd.

David M. Taghioff, 49 [Resigned 12/17/23]
Director

Mr. Taghioff has lead Library Pictures International, LLC, a global local-language content financier, since May 2019. Library was launched in May 2019 to support industry-leading filmmakers across the globe by investing in local production slates. From August 2011 to April 2020, Mr. Taghioff served at leading entertainment and sports agency Creative Artists Agency (CAA) and finally in the capacity of Co-Head of Global Client Strategy where he worked across the agency identifying new business opportunities for the agency’s clients, with an emphasis on the international marketplace. He advised corporate clients on their international initiatives, and he also worked with film and television clients on cross-border opportunities, brokering multiple film slate deals as well as packaging episodic content and film deals for Netflix and Amazon in India. From April 2010 to August 2011, he was Chief Operating Officer of Octagon, Inc.’s entertainment division. Prior to Octagon, from August 2006 to January 2010, Mr. Taghioff served as the Co-Head of William Morris Agency’s London office. Mr. Taghioff graduated with a Bachelor of Science in Urban Planning (Economics) from the University of Southern California. He received his Juris Doctorate from Santa Clara University School of Law and is a member of the California State Bar.

Deepak Nayar, 61 [Resigned 12/17/23]
Director

Based in Los Angeles, Mr. Nayar has worked as a film and television producer since 1996 and is known for his association with films like Lost Highway, Buena Vista Social Club, Bend It Like Beckham, Bride and Prejudice, Vampire Academy, Dredd, Partition 1947, and The Mistress of Spices. Mr. Nayar has won awards from the Imagen Foundation and the Online Film and Television Association. He has also been nominated for Grammy Awards, BAFTA Award and European Film Awards. He completed his Bachelor’s degree in English Literature from Hindu College, University of Delhi.

Gregory R. Silverman, 48 [Resigned 2/16/22]
Director

Mr. Silverman has been the CEO and Founder of Stampede Ventures, LLC since April 2018. Stampede Ventures is a premiere entertainment company sitting at the intersection of Hollywood and Silicon Valley and wholly focused on creating the next generation of blockbuster franchises across four divisions: Film, TV, Alternative, and International. Prior to founding Stampede, from 1997 to March 2017, Mr. Silverman served at Warner Bros. Pictures and finally in the capacity of President, Creative Development and Worldwide Production where he had full oversight of Warner Bros. Pictures’ development activities, global production and budget and worked on new opportunities to diversify and build upon the success of the company. While at Warner Bros., he was responsible for such box office hits as The Hangover, The Dark Knight, Gravity, Batman Vs. Superman: Dawn Of Justice, Suicide Squad, The Lego Movie, Sully, The Accountant, Fantastic Beasts And Where To Find Them, Wonder Woman, Crazy Rich Asians, A Star Is Born, Christopher Nolan’s Dunkirk and Steven Spielberg’s Ready Player One. Mr. Silverman serves on the Executive Committee of The Oakwood School and is a board member of both the Art Center College of Design and the Time Warner Foundation. He holds a Bachelor of Arts in Communications from Stanford University.

Paul F. Pelosi, Jr., 52 [Resigned]
Director

Mr. Pelosi is an experienced advisor to emerging growth and Fortune 500 companies in the areas of finance, infrastructure, sustainability and public policy. From March 2020 to the present, Mr. Pelosi has provided business development management services to ST Biosciences. From January 2021 to the present, he has also provided sales services to St. Georges Eco-Mining. From January 2002 to the present, Mr. Pelosi has advised clients on real estate transactions as a registered broker. He has been a member of the California State Bar since 1996. From March 2006 to October 2008, Mr. Pelosi served as Vice President of Corporate Strategy at InfoUsa, where he identified and executed mergers, acquisitions, and business partnerships. Mr. Pelosi’s previous experience includes working in a variety of positions in sales, corporate finance, loan origination, and institutional sales at Bank of America Securities from 1996 to 2001, JP Morgan Chase from 2001 to 2003, Bank of America Countrywide from 2003 to 2008, and at WR Hambrecht from 2009 to 2012. Mr. Pelosi is a graduate of Georgetown University with a BA in History (Cum Laude) and graduate of the Georgetown Law Center with a joint JD/MBA with an emphasis in International Business.

Suresh Ramamurthi, 53 [Resigned 12/17/23]
Director

Mr. Ramamurthi has been Chairman of CBW Bank since 2013 and has also served as the bank’s CTO. Mr. Ramamurthi leads CBW Bank’s initiatives to support and foster innovation including working with financial services start-ups. In 2009, the current ownership acquired the struggling Citizens Bank in Weir, Kansas and transformed the 123-year-old single-branch institution through the use of disruptive financial technology. Mr. Ramamurthi was named American Banker’s Innovator of the Year for 2015. Mr. Ramamurthi has served on the Board of Trustees for the Kansas Public Employees Retirement System (KPERS) since July 2013, having served as Chairman of the investment committee and is currently serving as the Chairman of the Board of Trustees. KPERS has more than $23 billion AUM and serves more than 281,000 retirees. Previously, Mr. Ramamurthi served as a Board Member of Kansas Film Commission. He has a Bachelor’s degree in Electronics and Communication Engineering from Anna University, Guindy, India, a Master’s degree in Computer Science from the Rutgers-NJIT Joint Program and an MBA in Finance from the University of Chicago.

Klaas P. Baks, [Resigned 12/17/23]
Director

Dr. Baks is the Co-Founder and Director of the Emory Center for Alternative Investments and has been a finance professor at Emory University’s Goizueta Business School since September 2002. He teaches courses in private equity, venture capital and distressed investing and has been recognized with nine awards, including Emory University’s highest award for teaching excellence, the Emory Williams Distinguished Teaching Award, the Marc F. Adler Prize for Teaching Excellence awarded by alumni and the Donald R. Keough Award for Excellence. Since October 2014, Dr. Baks has served as the Atlanta Chair for Tiger 21, a peer-to-peer learning network for high-net-worth investors whose members manage more than $50 billion and are entrepreneurs, inventors and top executives focused on improving investment acumen and exploring common issues of wealth preservation, estate planning and family dynamics. Dr. Baks also serves as a director or advisor for various companies and investment funds, including Vistas Media Acquisition Company Inc. (NASDAQ: VMAC) (since August 2020), American Virtual Cloud Technologies, Inc. (NASDAQ: AVCT) (since July 2017) – acquired through a SPAC business combination, Buckhead One Financial (since January 2018), JOYN (from May 2017 to March 2020), Peachtree Hotel Group (since August 2016), Backend Benchmarking (since April 2018) and TWO Capital Partners (since September 2009). Dr. Baks also has served on the Investment Committee of the Westminster Schools Board of Trustees from September 2017 to August 2020. Prior to joining Emory University, he held positions at Fuji Bank in Tokyo, Japan, Deutsche Bank in Hong Kong and the International Monetary Fund in Washington, D.C. Dr. Baks’s research and teaching focuses on issues in alternative investments, entrepreneurial finance and investment management, and he has published papers in numerous academic and business journals, including the Wall Street Journal. Dr. Baks studied at the Wharton School at the University of Pennsylvania, during which he spent two years at Harvard University as part of his doctoral research on the performance of actively managed mutual funds, and earned a Ph.D. in finance. He also earned a Master of Arts in economics from Brown University, a Master of Science in econometrics, cum laude from Groningen University and a diploma in Japanese language and business studies from Leiden University.

ByNat Judge