09:38 AM EST, 12/06/2024 (MT Newswires) -- Profound Medical ( PROF ) said Friday that it priced an underwritten public offering of about 4.7 million common shares at $7.50 per share to raise gross proceeds of about $35 million.

The company granted the underwriters a 30-day option to purchase up to an additional 700,005 common shares at the same offering price.

Profound Medical ( PROF ) expects to close the offering on or about Tuesday and said proceeds will be used to fund the commercialization of its Tulsa-Pro and Sonalleve systems and for general working capital.

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