Imax unveils IPO of 9.8 mil shares

Toronto firm aiming to raise $70.1 mil

TORONTO -- As it continues its digital transition, Imax Corp. on Tuesday unveiled a public offering of 9.8 million common shares priced at $7.15 each in a bid to raise about $70.1 million.

Toronto-based Imax said the proceeds will be used to repay debt, which includes some of its 9.63% senior notes due December 2010, and for general corporate purposes.

Roth Capital Partners LLC will underwrite the offering, which is expected to close by June 5.