Profound Medical Announces Closing of Offering

TORONTO, July 21, 2020 (GLOBE NEWSWIRE) — Profound Medical Corp. (TSX:PRN; NASDAQ: PROF) (“Profound” or the “Company”) is pleased to announce that it has closed its previously-announced underwritten offering (the “Offering”) of common shares of the Company (the “Common Shares”) at a price of US$14.50 per Common Share. The underwriters elected to exercise the over-allotment option in full, resulting in an aggregate of 3,172,414 Common Shares being issued today for aggregate gross proceeds of approximately US$46 million.