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Profound Medical Announces At-the-Market Offering of up to US$30,000,000

Key Takeaway: Profound Medical Corp. has launched an at-the-market equity program, enabling the issuance and sale of up to US$30 million in common shares. This initiative aims to enhance the company's financial flexibility and support its growth strategies. The program will be executed through designated securities dealers acting as agents.
Price reaction · baseline $8.5 (2024-02-16 close) · 4 other PROF headline(s) in the window, move may be shared
day 0 close · peak
-2.7%

Market Sentiment Analysis

POSITIVE FACTORS

  • Profound Medical has established an at-the-market equity program.
  • The program allows for the issuance of up to US$30,000,000 in common shares.
  • This move may provide additional funding for future initiatives.

Full Press Release Details

TORONTO, Sept. 06, 2023 (GLOBE NEWSWIRE) — Profound Medical Corp. (TSX: PRN; NASDAQ: PROF) (“ Profound ” or the “ Company ”) announces that it has established an at-the-market equity program (the “ ATM Program ”) that allows the Company, through certain securities dealers acting as agents (together, the “ Agents “), to issue and sell from time to time up to US$30,000,000 of common shares in the capital of the Company (the “ Common Shares ”).

Frequently Asked Questions

What is the purpose of Profound Medical's ATM program?

The ATM program aims to allow Profound Medical to raise up to $30 million through the sale of common shares.

How much can Profound Medical raise through this program?

Profound Medical can raise up to US$30 million through the at-the-market equity program.

Who will manage the ATM program for Profound Medical?

The program will be managed by certain securities dealers acting as agents.

When was the ATM program announced?

The ATM program was announced on September 6, 2023.

Last updated: Feb 19, 2024