Profound Medical Corp. successfully completed a private placement of common shares to Canadian investors.
The Company issued 921,428 common shares at a price of US$7.00 per share, raising approximately US$6.45 million in gross proceeds.
The net proceeds from the offering will be used for sales and marketing expansion, working capital, research and development, strategic transactions, and general corporate purposes.
Private Placement Completion
Profound Medical Corp. closed the private placement, issuing 921,428 common shares at US$7.00 per share.
Use of Proceeds
The company plans to utilize the funds for various purposes including sales expansion and research and development.
Hold Period
The common shares sold are subject to a four-month hold period under Canadian securities laws.
- Profound Medical Corp. aims to enhance its operations through the capital raised in the private placement.
- The expansion of sales and marketing activities indicates a strategic move to grow the company's market presence.
With the completion of the private placement, Profound Medical Corp. is well-positioned to advance its growth strategies and further develop innovative medical technologies.