Profound Medical Announces Non-Brokered Private Placement For Gross Proceeds Of ~$2,937,507; Expects To Issue 391,667 Common Shares At $7.50/Share
Portfolio Pulse from Benzinga Newsdesk
Profound Medical Corp. has announced a non-brokered private placement aiming to raise approximately $2,937,507. The company expects to issue 391,667 common shares at a price of $7.50 per share. The expected closing date for the private placement is on or about January 17, 2024, and is subject to customary closing conditions.
January 16, 2024 | 9:33 pm
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Profound Medical Corp. is set to raise funds through a private placement, which could provide the company with additional capital for operations, growth, or debt reduction. The issuance of new shares at $7.50 may impact the stock's market price.
Private placements often provide companies with necessary capital, but they can also dilute existing shareholders' equity. The impact on the stock price can be neutral to negative in the short term, depending on investor perception of the company's value and use of proceeds.
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