IMAX Corporation (IMAX) has released an update.
Auxly Cannabis Group Inc. has transformed its financial landscape by converting over $123 million of debt into equity, granting Imperial Brands plc a 19.8% ownership stake. The move eliminates a significant debt burden and is anticipated to save Auxly roughly $14 million in annual interest expenses. This strategic financial restructuring aims to strengthen Auxly’s balance sheet and propel the company toward profitable growth.
For further insights into IMAX stock, check out TipRanks’ Stock Analysis page.
