IMAX issued $220 million of convertible senior notes due 2030 in a private placement to qualified institutional buyers under Rule 144A, with an option to purchase an additional $30 million in notes.
The notes carry a 0.500 % interest rate and mature on November 15, 2030, giving the company a 7‑year term to deploy the proceeds while managing interest expense and balance‑sheet leverage.
Proceeds will be used to partially refinance the company’s outstanding 0.500 % convertible senior notes due 2026, fund capped call transactions designed to mitigate dilution, and for working capital, share repurchases, and other general corporate purposes.
The offering increases IMAX’s debt load to $282.9 million as of June 2024, but the company maintains a healthy liquidity position with $407 million in available cash and a current ratio above 1.5.
The notes provide a 7‑year term, giving IMAX a window to deploy capital while managing interest expense and balance‑sheet leverage.
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