IMAX Sells $18 Million Worth of Shares

on May 06, 2008

According to The Canadian Press, IMAX Corp. has announced that the Douglas family, its largest shareholder, is adding to its stake by buying 2.7 million shares for $18 million in a private placement. As a result of the move, the Douglas family now owns 19.9 per cent of the company.

In addition, IMAX also said Wachovia Capital Finance Corp. has agreed to expand and ease the terms of its credit facility.

Both transactions will help fund this summer's roll-out of the IMAX digital projection system.

Tags: imax, stocks

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