IMAX Corporation (NYSE: IMAX) today announced an increase of $100 million in the Company’s share repurchase program along with a one-year extension through June 30, 2027. This expansion brings the Company’s total share repurchase authorization to $500 million, of which approximately $250 million remains available.
The Company has repurchased a total of 15.1 million of its common shares (or approximately a 23% net reduction in shares outstanding) for an aggregate purchase price of $249.3 million pursuant to the current share-repurchase program since it commenced on July 1, 2017.
Repurchases under the Company’s share-repurchase program may be made either in the open market or through private transactions, including under Rule 10b5-1 plans, subject to market conditions and applicable legal requirements. IMAX has no obligation to repurchase shares, and the share-repurchase program may be suspended or discontinued by the Company at any time. In addition, the share-repurchase program does not include shares repurchased in connection with the administration of employee share-based compensation plans.
About IMAX Corporation
IMAX, an innovator in entertainment technology, combines proprietary software, architecture, and equipment to create experiences that take you beyond the edge of your seat to a world you’ve never imagined. Top filmmakers and studios are utilizing IMAX systems to connect with audiences in extraordinary ways, making IMAX’s network among the most important and successful theatrical distribution platforms for major event films around the globe.
IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of December 31, 2024, there were 1,807 IMAX systems (1,735 commercial multiplexes, 11 commercial destinations, 61 institutional) operating in 90 countries and territories. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong Kong Stock Exchange under the stock code “1970”.
IMAX, IMAX 3D, Experience It In IMAX, The IMAX Experience, DMR, Filmed For IMAX, IMAX LIVE, and IMAX Enhanced are trademarks and trade names of IMAX Corporation or its subsidiaries that are registered or otherwise protected under laws of various jurisdictions. For more information, visit www.imax.com. You may also connect with IMAX on Instagram (www.instagram.com/imax), Facebook (www.facebook.com/imax), LinkedIn (www.linkedin.com/company/imax), X (www.twitter.com/imax), and YouTube (www.youtube.com/imaxmovies).