Profound Medical Corp. Announces Closing of Private Placement

Core Viewpoint - Profound Medical Corp. has successfully completed a private placement of common shares, raising approximately US$6.45 million to support its business expansion and development efforts [1][2]. Group 1: Offering Details - The company issued a total of 921,428 common shares at a price of US$7.00 per share [1]. - The shares are subject to a hold period of four months plus one day from the closing date under Canadian securities laws [2]. - The net proceeds from the offering will be allocated for sales and marketing expansion, working capital, research and development, strategic transactions, and general corporate purposes [2]. Group 2: Regulatory Information - The securities offered have not been registered under the U.S. Securities Act and cannot be sold in the U.S. without registration or an applicable exemption [3]. - The company plans to file a registration statement with the U.S. Securities and Exchange Commission within four months from the closing date of the offering [3]. Group 3: Company Overview - Profound Medical Corp. is a commercial-stage medical device company focused on AI-powered, MRI-guided, incision-free therapies for tissue ablation [5]. - The company is commercializing TULSA-PRO, a technology designed for the treatment of various prostate conditions, which is CE marked, Health Canada approved, and FDA 510(k) cleared [6]. - Profound is also developing Sonalleve, a therapeutic platform for treating uterine fibroids and other conditions, which has received CE marking and FDA approval under a Humanitarian Device Exemption [7].