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FAQ: Profound Medical Corp.'s $36 Million Registered Direct Offering and Company Overview
TL;DR
Profound Medical raised $36 million to expand sales of its AI-powered, incision-free prostate treatments, offering investors exposure to a growing medical technology market.
Profound Medical completed a registered direct offering of 5.14 million shares at $7.00 each, generating $36 million in gross proceeds through healthcare-focused investors.
This funding supports Profound Medical's mission to advance incision-free, MRI-guided therapies that preserve patients' quality of life while treating prostate disease and other conditions.
Profound Medical's TULSA-PRO system uses robotically-driven ultrasound and real-time MRI to precisely heat prostate tissue to 57°C without incisions or radiation.
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Profound Medical Corp. has closed a registered direct offering of 5,142,870 common shares at $7.00 per share, generating approximately $36 million in gross proceeds before fees and expenses.
The offering was structured as a straightforward equity investment with no warrant coverage, led by healthcare-dedicated investors alongside existing shareholders, with Konik Capital Partners, LLC acting as the exclusive placement agent.
The company intends to use the net proceeds to support expansion of sales and marketing activities, working capital, research and development, strategic transactions, and general corporate purposes.
Profound Medical is a commercial-stage medical device company that develops and markets AI-powered, MRI-guided, incision-free therapies for the ablation of diseased tissue, primarily through their TULSA-PRO and Sonalleve platforms.
TULSA-PRO combines real-time MRI, AI-enhanced planning, robotically-driven transurethral ultrasound and closed-loop temperature feedback control to treat the entire prostate disease spectrum, including prostate cancer (low-, intermediate-, or high-risk), benign prostatic hyperplasia (BPH), hybrid patients, and salvage therapy for radio-recurrent localized prostate cancer.
The TULSA Procedure is incision- and radiation-free, preserves urinary continence and sexual function, requires no hospital stay, involves no bleeding, allows quick recovery, and can treat virtually all prostate shapes and sizes in a single session lasting a few hours.
TULSA-PRO is CE marked, Health Canada approved, and 510(k) cleared by the U.S. Food and Drug Administration (FDA).
Sonalleve is an innovative therapeutic platform CE marked for treating uterine fibroids, adenomyosis, pain palliation of bone metastases, desmoid tumors and osteoid osteoma, with additional approvals in China for uterine fibroids and FDA approval for osteoid osteoma under a Humanitarian Device Exemption.
For more information, visit https://profoundmedical.com/ or view the full press release at https://ibn.fm/JWzrG.
Curated from InvestorBrandNetwork (IBN)
