Profound Medical Prices $20M Public Offering Of 2,666,667 Common Shares At $7.50/Share
Portfolio Pulse from Benzinga Newsdesk
Profound Medical Corp. has priced a public offering of 2,666,667 common shares at $7.50 per share, aiming to raise $20 million. The offering is anticipated to close around January 2, 2024.
December 28, 2023 | 6:56 am
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Profound Medical Corp. is raising $20 million through a public offering of its common shares, which may dilute current shareholders but provide capital for growth.
The announcement of a public offering often leads to short-term downward pressure on a company's stock price due to the potential dilution of existing shares. However, the raised capital can be used for growth initiatives, which might be positive in the long term. The impact is highly relevant as it directly pertains to PROF's financial strategy and shareholder value.
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