IMAX expands credit facility to $375 million with option to reach $515m

NEW YORK - IMAX Corporation (NYSE:IMAX), a $1.49 billion entertainment technology company, has renewed and expanded its senior secured revolving credit facility, increasing its borrowing capacity from $300 million to $375 million, according to a press release statement issued by the company. The company maintains a strong financial position with liquid assets exceeding short-term obligations by nearly 4 times.

The new facility, which matures in 2030, includes an uncommitted accordion feature that would allow IMAX to further expand its borrowing capacity to $515 million or greater. The arrangement was completed in partnership with a syndicate of seven lenders, with Wells Fargo Securities, LLC serving as the sole lead arranger.

The renewed credit facility replaces the company’s previous credit agreement and includes reduced borrowing costs, which the company attributes to improved market conditions and its financial position.

IMAX CEO Rich Gelfond said the facility provides additional flexibility for executing the company’s priorities and optimizing its capital structure. The facility is designed to support ongoing operational needs, network expansion, refinancing of existing debt, and other corporate purposes.

As of March 31, 2025, IMAX operated 1,810 systems across 89 countries and territories, including 1,738 commercial multiplexes, 11 commercial destinations, and 61 institutional locations.

IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong Kong Stock Exchange under the stock code 1970.

In other recent news, IMAX Corporation reported a strong global IMAX debut for Warner Bros./DC Studios’ "Superman," which generated $30.4 million in its opening weekend. This includes $19.1 million in North America and $11.3 million internationally, marking a significant achievement for the company. Analysts at Benchmark have maintained a Buy rating with a $30 price target, noting IMAX’s confirmed Q2 box office performance of $278 million and expressing optimism about the company’s global system growth and margin expansion. Additionally, B.Riley initiated coverage with a Buy rating and a $36 price target, citing strong domestic box office performance and increased Adjusted EBITDA estimates based on market trends and system installations. Texas Capital Securities also reaffirmed its Buy rating and $36 price target after IMAX’s first-quarter earnings exceeded expectations, highlighting robust demand for new screen installations and consumer interest in premium experiences. Moreover, IMAX announced an increase of $100 million to its share repurchase program, bringing the total authorization to $500 million, with $250 million still available. These developments indicate a positive outlook for IMAX’s financial and operational performance.

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