Profound Medical Corp. announced a $40 million financing which includes a $36 million registered direct offering and a subsequent $4 million private placement.
The company sold 5,142,857 common shares at $7.00 per share in the registered direct offering.
The gross proceeds are expected to be approximately $36 million before expenses.
Financing Details
$36 million from the registered direct offering and $4 million from the private placement for a total of $40 million.
Use of Proceeds
Net proceeds will be used for sales and marketing expansion, working capital, research and development, strategic transactions, and general corporate purposes.
Placement Agent
Konik Capital Partners, LLC, a division of T.R. Winston and Company, LLC, is the exclusive placement agent for this offering.
- The financing will support the company's growth initiatives including sales expansion, research and development, and strategic transactions.
- The involvement of healthcare-dedicated investors reflects confidence in Profound Medical Corp.'s future prospects.
Profound Medical Corp.'s successful financing marks a significant milestone in its expansion strategy, providing the necessary capital for key growth areas. The company is positioned for further development and innovation in the medical device industry.