IMAX Corp. (IMAX) (IMX.TO) said that it has completed its public offering of 9.8 million of its common shares at $7.15 per share. Gross proceeds from the offering were $70.1 million. The company has granted the underwriter an option to purchase up to an additional 1.47 million shares of common stock at the public offering price, less the underwriting commission, within 30 days following pricing.
The company plans 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.
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