Profound Medical Announces Proposed Public Offering Of Common Shares; Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Profound Medical Corp. has announced a proposed public offering of its common shares, with the terms yet to be disclosed. The offering price and size will be determined in the context of the market upon entering an underwriting agreement. The company also plans to grant the underwriter an over-allotment option of up to an additional 15% of the common shares, exercisable for 30 days post-closing. All securities in the offering will be sold by the company itself.
December 27, 2023 | 9:18 pm
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Profound Medical Corp.'s proposed public offering may dilute current shareholders' equity, but could also provide the company with additional capital for growth and operations.
Public offerings often lead to short-term negative impact on a company's stock price due to the potential dilution of existing shares. However, the additional capital raised can be positive in the long-term if used effectively for the company's growth.
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