Benzinga | Jul 16, 2020 06:18AM EDT

Profound Medical Prices 2.7M Share Offering of Common Shares @$14.50/Share

Profound Medical Corp. (NASDAQ:PROF) is pleased to announce the pricing of an underwritten public offering (the "Offering") of 2,758,621 common shares of the Company (the "Common Shares"), at a price of US$14.50 per Common Share (the "Offering Price").

The aggregate gross proceeds to the Company are expected to be US$40,000,005. The Company has also granted the underwriters an over-allotment option to purchase up to an additional 413,793 Common Shares at the Offering Price, exercisable in whole or in part at any time up to 30 days from the closing.

Jefferies, Cowen and Raymond James are acting as joint book-running managers for the Offering.