Business
Profound Medical Corp. Announces $20 Million Bought Deal Financing
Profound Medical Corp. Announces $20 Million Bought Deal Financing Canada NewsWire...
About this update from Profound Medical Corp
[{"type":"text","content":"\n\n\n\nProfound Medical Corp. Announces $20 Million Bought Deal Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, Feb. 27, 2018\n\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n\n\n\nMISSISSAUGA, ON, Feb. 27, 2018 /CNW/ - Profound Medical Corp. (TSXV:PRN) (\"Profound\" or the \"Company\") is pleased to announce today that it has entered into an agreement with a syndicate of underwriters, led by Canaccord Genuity Corp. (the \"Underwriters\"), pursuant to which the Underwriters will purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 20.0 million units (the \"Units\") of the Company at a price of $1.00 per Unit (the \"Offering Price\") for aggregate gross proceeds of $20.0 million (the \"Offering\").\n\nEach Unit will consist of one common share (a \"Common Share\") and one-half of one common share purchase warrant (each full common share purchase warrant, a \"Warrant\") of the Company. Each Warrant will be exercisable to acquire one common share of the Company for a period of five years following the closing date of the Offering at an exercise price of $1.40 per common share, subject to adjustment in certain events. \n\nIf at any time on or after the date that is 18 months after the closing date, the closing price of the common shares on the TSX Venture Exchange is greater than $2.80 for a period of ninety (90) calendar days, the Company may, at its option, accelerate the expiry date of the Warrants, and in such case the Warrants will expire on the earlier of (i) the 20th day after the date on which such notice is given by the company; (ii) sixty (60) months from the closing date.   \n\nThe Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 3.0 million Units at the Offering Price, exercisable in whole or in part, at any time and from time to time on or prio...