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[QUOTE]Originally posted by metal1: [QB] nice move today back over 7 again. good buy on dips. financing for their 100's of theater intstall in place now.. DOW JONES NEWSWIRES IMAX Corp. (IMAX) has entered into two financing transactions largely to fund its digital projection roll-out, scheduled to start in the summer. The Toronto film-presentation company said one financing is with Wachovia Capital Finance Corp. to increase future availability and modify other terms under its existing credit facility. It said the other financing is with the Douglas family, IMAX's largest shareholder, for the sale of about 2.73 million common shares in a private placement for $18 million. It said Wachovia has extended IMAX's credit facility to Oct. 31, 2010, removes an EBITDA maintenance covenant if the company maintains certain minimum liquidity requirements, and is likely to increase the company's borrowing base. It said the placement was made at $6.60 a share. The company said the Douglas family will own 19.9% of IMAX shares after the placement and has agreed to a five-year standstill whereby it will refrain from certain activities, such as increasing its percentage ownership and entering into various arrangements with the company, such as fundamental or change-of-control transactions. -John Moritsugu, 416-306-2100; AskNewswires*dowjones.com [/QB][/QUOTE]
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