LOS ANGELES, Aug. 6 - Affinity Media International Corp. , a special purpose acquisition company, announced recently that stockholders of record as of August 8, 2008 will be invited to attend Affinity's special meeting of stockholders tentatively scheduled to be held on September 5, 2008. Because Affinity did not complete a business combination on or prior to June 9, 2008, Affinity's amended and restated certificate of incorporation requires Affinity to distribute to holders of shares of its common stock issued in Affinity's initial public offering all amounts in the trust account (the "Trust Account") that was established at the consummation of Affinity's initial public offering into which a certain amount of the net proceeds of the IPO were deposited . After establishing a reserve for accrued Delaware Franchise taxes in the amount of approximately $11,000, as of July 30, 2008, approximately $18,975,000 (approximately $6.00 per IPO Share) was in the trust account available for distribution (the "Redemption Payment").
Profile for Affinity Media International Corp.
Affinity Media International Corp. does not have significant operations. It intends to acquire or merge a business combination with a single operating entity or one or more related or unrelated operating entities in the publishing industry located in the United States. The company was founded in 2005 and is based in Los Angeles, California.