On September 20, 2017, Profound Medical Corp. (“Profound”) completed a bought deal offering (the “Offering”) of 10,000,000 units (“Units”) for total gross proceeds of $10 million. Each Unit consisted of one common share of Profound (each a “Common Share”) and one-half of one warrant (each whole warrant being a “Warrant”), with each Warrant entitling the holder to acquire one Common Share at a price of $1.40 per Common Share until September 20, 2020, subject to accelerated expiry provisions in the warrant indenture governing the Warrants.
The Offering was completed through a syndicate of underwriters led by Echelon Wealth Partners Inc. (“Echelon”) and including CIBC World Markets Inc.
Echelon was advised by a team from Fasken Martineau, including Krisztian Toth, John Sabetti, David Steinhauer and Matt Downer, with the assistance of students-at-law Zach Austin, Sophie MacRae, Simar Anand and Ken Taylor.
