IMAX Corporation (NASDAQ:IMAX - News; TSX:IMX - News) announced today the closing of its previously announced public offering of 9,800,000 of its common shares at $7.15 per share. Gross proceeds from the offering were $70.1 million. IMAX has granted the underwriter an option to purchase up to an additional 1,470,000 shares of common stock at the public offering price, less the underwriting commission, within 30 days following pricing.
IMAX intends to use the net proceeds from the offering for the repayment of debt, including a portion of its 9 5/8% Senior Notes due December 2010, and for general corporate purposes.
Roth Capital Partners, LLC acted as the underwriter for the offering.
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