IMAX Completes $250 Million Convertible Notes Offering and Concurrent Capped Call Transactions

Simpson Thacher & Bartlett LLP represented the initial purchasers and certain financial institutions in connection with IMAX Corporation's offering of convertible senior notes and related capped call transactions. The transaction comprised an offering by IMAX Corporation of $250 million aggregate principal amount of 0.750% Convertible Senior Notes due 2030, which reflected the full exercise of the initial purchasers’ option to purchase additional notes. Concurrently, IMAX entered into capped call transactions with certain financial institutions represented by Simpson Thacher. IMAX used the net proceeds of the offering, together with cash on hand and borrowings under its credit facility, to repurchase its existing convertible senior notes due 2026 and to fund the cost of the capped call transactions. IMAX is a global technology platform for entertainment and events that combines proprietary software, auditorium architecture, patented intellectual property and specialized equipment to create immersive content experiences under the IMAX brand. Simpson Thacher & Bartlett LLP represented the initial purchasers and certain financial institutions with a team composed by: Roxane Reardon, Matt Hart, Erin Camia and Marlena Choupo (Capital Markets); Jonathan Lindabury, Marc Langer, Diana Yen and Ruben Aguirre (Derivatives); Jonathan Cantor (Tax); Erica Rozow, George Gerstein and Jesslyn Nunez (Executive Compensation and Employee Benefits); Corina Holland (Intellectual Property); and Jennie Getsin (Blue Sky).

IMAX Completes $250 Million Convertible Notes Offering and Concurrent Capped Call Transactions

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