Cinar Films, Montreal, has filed with the u.s. Securities and Exchange Commission stating its intention to sell up to 2.2 million subordinate voting shares.

The net proceeds to the company from the sale of more than 1.7 million shares will be in the $37.5 million range. Principals ceo Micheline Charest and president Ron Weinberg will hold over 55% of the company’s voting shares when the offering is closed, says Hasanain Panju, Cinar vp and cfo. Proceeds will be used for ‘general working capitalwhich include funding selected future acquisitions.’

Furman Selz LLC, Montgomery Securities and Marleau Lemire (USA) are the offering’s comanagers.

Cinar b stock is trading at $18.50 to $19.50 on nasdaq and $26.50 to $28 a share on the tse.