Just curious here, I read that the 7.15 IMAX got for those shares was in Canadian $, is that true? That is/was 6.58 a share US and comes out to 70M Canadian but about 64.5M US. If this is true then could partially explain current drop (along with Potter news). Also I did not think the underwriter would purchase the additional 1.47M shares since price got below 7.15 but if that is equivilent of 6.60 or so US they probably will. Think this could come down to the 6.60 range? I hope not but I'm thinking of buying more and wonder if I should wait, underwriter has 30 days from June 5 to buy those extra shares, more dilution but more cash, maybe pay off more of those bonds? Bottom line is I'm not so happy with that 7.15 anymore, stock was around 8 and if they only got/are getting 6.58 a share that's a pretty big discount.................. Am I not understanding something here?
Well I figured it was important, I know it was to me. Big difference between 7.15 and 6.58, also that option for the underwriter, for sure they would buy the extra 1.5M shares if 6.58, if 7.15 not definite. Amazes me that a major stock broker would have faulty information on it's site......................
"IMAX raises $64.48 million through public offering Tuesday 06/09/2009 2:30 PM ET - Datamonitor Financial Deals Tracker
IMAX Corporation, a Canada-based entertainment technology company, has completed a public offering of 9.8 million shares of its common stock at CAD7.15 ($6.58) per share for total gross proceeds of CAD70.07 million ($64.48).
Announcement (June 2, 2009):
IMAX has priced its public offering of 9.8 million common shares at a price of CAD7.15 ($6.58) per share to raise gross proceeds of CAD70.07 million ($64.48 million).
IMAX has granted the underwriter an option to purchase up to an additional 1.47 million common shares, within 30 days following pricing. The transaction is expected to close on or around June 5, 2009."
All the news I've read through Yahoo and other places never mentions Canadian $. In fact I made another purchase last week thinking they got $7.15US. Not sure what is up here. Also that would mean they don't have 26M left, they only have 20. Hey maybe what I read is wrong but it came from a stock broker's site.