Profound Medical Raises US$2.93M in Private Placement

Profound Medical (TSE:PRN) has released an update.

Profound Medical Corp. has successfully completed a non-brokered private placement, raising approximately US$2.93 million through the issuance of common shares at a price of US$7.50 each. The private placement, which was finalized in two tranches on January 17 and 18, 2024, will fund the commercialization of the TULSA-PRO system in the U.S., as well as the global development of both the TULSA-PRO and Sonalleve systems, alongside general corporate purposes. This strategic move is aimed at bolstering the company’s position in the medical technology market.

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