August 18, 2009 (FinancialWire) — IMAX Corp. (NASDAQ: IMAX) (TSX: IMX) announced the closing of the public offering of 5,882,353 of its common shares at a public offering price of $8.50 per share.

Gross proceeds from the offering were approximately $50 million. IMAX has granted the underwriter the option to purchase up to an additional 882,353 common shares at the public offering price, less the underwriting commission, within 30 days following pricing.

IMAX intends to use the net proceeds from the offering for the repayment of debt, including a portion of its 9 5/8% senior notes due December 2010. IMAX intends to refinance the remainder of its existing indebtedness through cash flow from operations and future debt financings.

Roth Capital Partners, LLC acted as the sole underwriter for the offering.

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