MONTRÉAL, QUÉBEC--(Marketwired - Nov. 16, 2016) - On November 14, 2016, BDC Capital Inc. ("BDC Capital"), a wholly-owned subsidiary of the Business Development Bank of Canada (the "BDC"), purchased 3,636,363 common shares (the "Common Shares") in the capital of Profound Medical Corp. ("Profound Medical") at a price of $1.10 per Common Share pursuant to a public offering (the "Offering") of Common Shares (representing approximately 6.6% of the issued and outstanding Common Shares after giving effect to the Offering).
Immediately prior to the closing of the Offering, BDC beneficially owned or had control or direction over, directly or indirectly, an aggregate of 9,805,429 Common Shares, representing approximately 24.8% of the then issued and outstanding Common Shares. As of November 14, 2016, after giving effect to the Offering, BDC beneficially owns or has control or direction over, directly or indirectly, an aggregate of 13,441,792 Common Shares, representing approximately 24.3% of the issued and outstanding Common Shares after giving effect to the Offering.
BDC Capital acquired the Common Shares for investment purposes. The BDC or BDC Capital may, depending on market and other conditions and subject to applicable securities regulation, change their beneficial ownership of (or control or direction over) the Common Shares, whether in the open market, by privately negotiated agreements, or otherwise. Any transaction that the BDC or BDC Capital may pursue may be made at any time and from time to time without prior notice and will depend on a variety of factors, including, without limitation, the price and availability of Profound Medical's securities, subsequent developments affecting Profound Medical, its business and prospects, other investment and business opportunities available to the BDC or BDC Capital, general industry and economic conditions, the securities markets in general and other factors deemed relevant by the BDC or BDC Capital.
An early warning report relating to this transaction will be filed on SEDAR under Profound Medical's profile at www.sedar.com. To obtain a copy of such report, please contact Maria Constantinescu, Public Relations at 1-844-625-8321. The BDC is Canada's business development bank, a financial institution dedicated exclusively to entrepreneurs.