IMAX to raise $70.1 mln from share offering

http://fresh.bnn.ca/reuters_story.aspx?story=2009-06-02T094848Z_01_TRE55125O_RTROPTT_0_CBUSINESS-US-IMAX.XML

The giant movie screen theater company IMAX Corp said its public offering of 9.8 million common shares has been priced at $7.15 a share, with gross proceeds expected to be $70.1 million. The Canadian company behind IMAX giant-screen cinema systems and films intends to use the net proceeds from the offering to repay debts and for general corporate purposes. IMAX granted the underwriter an option to purchase up to an additional 1,470,000 common shares at the public offering. I chose this article because I love the Imax so i wanted to read what was going on. I do agree with the information because they are planning to repay debts. The information was presented fairly because it tells you exactly what they are planning to do with the money. I think I am going back to CNN, I didn't like this source so much.