Profound Medical Prices US$35 Million Underwritten Public Offering of Common Shares-February 2024-www.financetom.com

Profound Medical Prices US$35 Million Underwritten Public Offering of Common Shares

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Profound Medical Prices US$35 Million Underwritten Public Offering of Common Shares

Dec 6, 2024 7:19 AM

09:59 AM EST, 12/06/2024 (MT Newswires) -- Profound Medical ( PROF ) on Friday said it priced an underwritten public offering of 4,666,700 common shares at US$7.5 per common share for proceeds of about US$35 million.

The underwriters have a 30-day option to purchase up to an additional 700,005 common shares at the public offering price. The offering is expected to close on or about Dec. 10.

Profound Medical ( PROF ) expects to use the net proceeds of the offering to fund the continued development and commercialization of the TULSA-PRO(r) system and the Sonalleve(r) system globally and for working capital and general corporate purposes.

Price: 10.71, Change: -0.54, Percent Change: -4.80

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