Auxly Converts Debt to Equity, Bolsters Finances
Company Announcements

Auxly Converts Debt to Equity, Bolsters Finances

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.

Related Articles
TipRanks Canadian Auto-Generated NewsdeskAuxly Cannabis Group Achieves Record-Breaking Q3 2024
Casey Dylan, CIMAAnd the Oscar for Best Financial Results Goes to…IMAX (IMAX)
TheFlyImax price target raised to $28 from $24 at Barrington
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App