(RTTNews) - IMAX Corporation (IMAX) announced that it intends to offer $220 million aggregate principal amount of convertible senior notes due 2030 in a private offering. The company also expects to grant the initial purchasers of the notes an option to purchase up to an additional $30 million principal amount of notes.
IMAX intends to use a portion of the net proceeds from this offering, together with cash on hand and debt, to fund the cost of entering into the capped call transactions and to consummate the 2026 notes repurchases.
The company aims to use any remaining net proceeds for working capital and general corporate purposes.
If the initial purchasers exercise their option to purchase additional notes, then IMAX intends to use additional cash on hand and debt to fund the cost of entering into additional capped call transactions.
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