MONTRÉAL, July 22, 2024 (GLOBE NEWSWIRE) -- On July 19, 2024, BDC Capital Inc. (“BDC Capital”), a wholly-owned subsidiary of the Business Development Bank of Canada (“BDC”), sold an aggregate of 441 common shares (the “Common Shares”) in the capital of Profound Medical Corp. (“Profound Medical”) through the facilities of various stock exchanges, at an average price of CAD$14.02 per Common Share, for an aggregate consideration of CAD$6,182.82 (the “Disposition”).
Immediately prior to the Disposition and further to (a) the consolidation of the Common Shares on the basis of one (1) post-consolidation Common Share for each ten (10) pre-consolidation Common Shares on October 11, 2019, and (b) an increase in the aggregate number of Common Shares outstanding since BDC’s previous disclosure with respect to Profound Medical, BDC beneficially owned or had control or direction over, directly or indirectly, an aggregate of 1,344,179 Common Shares, representing approximately 5.5% of the issued and outstanding Common Shares. Further to the Disposition, BDC beneficially owns or has control or direction over 1,343,738 Common Shares, representing approximately 5.5% of the issued and outstanding Common Shares.
BDC Capital sold the Common Shares as a result of an investment decision. 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) Common Shares or other securities of Profound Medical, whether in the open market, by privately negotiated agreements, or otherwise. Any transaction that 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 BDC or BDC Capital, general industry and economic conditions, the securities markets in general and other factors deemed relevant by BDC or BDC Capital.
An early warning report relating to this transaction will be filed on SEDAR+ under Profound Medical’s profile at www.sedarplus.ca. BDC is Canada’s business development bank, a financial institution dedicated exclusively to entrepreneurs. The head office of the BDC is located at 5, Place Ville-Marie, Ground Floor, Montréal, Québec, H3B 2G2. For more information about BDC or to obtain a copy of the early warning report, contact Phil Taylor at Phil.Taylor@bdc.ca or 343-961-4859. The Canadian head office of Profound Medical is located at 2400 Skymark Avenue, Unit 6, Mississauga, Ontario, L4W 5K5.
