IMAX sells $18 million worth of shares
IMAX has centralized a larger portion of its ownership with this new deal.
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 percent of the company.
In addition, IMAX also said Wachovia Capital Finance Corp. has agreed to expand and ease the terms of its credit facility.
These transactions will help fund the roll-out of the IMAX digital projection system.
Full press release at: Digital Cinema Info