01:24 PM EST, 12/10/2024 (MT Newswires) -- Profound Medical ( PROF ) , up 1.7% at last look, on Tuesday said it closed an underwritten public share offering, raising US$40.25 million.

The company sold 5.4-million shares priced at US$7.50 each in the financing.

Proceeds will go towards the continued commercialization of the TULSA-PRO system in the United States and globally, alongside Philips Healthcare's Sonalleve system.

Profound Medical ( PROF ) was last seen up $0.18 to $11.04 on the Toronto Stock Exchange.

Price: 11.04, Change: +0.18, Percent Change: +1.66