Profound Medical Corp. upsized a previously announced bought-deal offering and now plans to raise gross proceeds of C$30 million.
The Ontario-based company said it will now offer 30 million units at C$1 apiece. Each unit will comprise 1 common share and 0.5 of a five-year warrant to buy an additional share for C$1.40.
Additionally, the medical device company agreed to grant the underwriters a 30-day overallotment option to buy up to an additional 4.5 million units at the offering price.
The syndicate of underwriters is led by Canaccord Genuity Corp.
The offering is expected to close on or about March 20, subject to certain closing conditions.
