Profound Medical completes cross-border offering

On January 27, 2020, Profound Medical Corp. ("Profound Medical") completed its previously-announced offering of common shares at a price of US$11.65 per common share. The underwriters elected to exercise the over-allotment option in full, resulting in an aggregate of 3,392,500 common shares being issued for aggregate gross proceeds of approximately US$40 million.

Cowen acted as sole book-running manager for the offering and Raymond James Ltd. acted as co-manager.

The common shares were offered in each of the provinces of Canada, other than Québec, and the United States, pursuant to a prospectus supplement to Profound Medical's short form base shelf prospectus.

Profound Medical is a commercial-stage medical device company that develops and markets customizable, incision-free therapies for the ablation of diseased tissue.

Further information can be found on Globe Newswire's website.