Profound Medical ADR drops after pricing $20 mln stock offering

Profound Medical

28/12/2023 09:47

** U.S.-listed shares of Canada's Profound Medical  PROF.O 
slide 8.2% to $7.62 premarket
    ** Co's public offering of about 2.7 common shares priced at
$7.50/apiece for gross proceeds of $20 million
    ** Offering priced at 9.6% discount to stock's last closing
price
    ** Co expects to use the proceeds to fund the continued
commercialization and development of its medical devices and as
working capital 
    ** Stock down 24% YTD

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))