Extracted from this filing and checked against the source text.
Auditor Changes
SEC 8-K Item 4.01/4.02
confidence 0.9
Profound Medical Corp. reported that prior financial statements should not be relied upon.
- Action
- non reliance
- Auditor
- PricewaterhouseCoopers LLP
Exact text from the filing
On March 6, 2025, the Audit Committee of the Company’s Board of Directors, upon the recommendation of the Company’s management, and after discussion with the Company’s independent registered public accounting firm, PricewaterhouseCoopers LLP, concluded that the Company’s unaudited consolidated financial statements included in the Company’s Reports of Foreign Private Issuer on Form 6-K for the three months ended March 31, 2024, the three and six months ended June 30, 2024 and the three and nine months ended September 30, 2024 filed with the Securities and Exchange Commission (the “SEC”) on May 9, 2024, August 8, 2024 and November 7, 2024, respectively (the “Reports” and all financial statements included in the Reports, collectively, the “Affected Financials”), should no longer be relied upon as a result of the foregoing error.
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Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Profound Medical Corp. amended revolving credit of $10,000,000 with Canadian Imperial Bank of Commerce (CIBC) at Wall Street Journal Prime Rate subject to a floor of 6.25% maturing March 3, 2027.
- Instrument
- revolving credit
- Principal
- $10,000,000
- Counterparty
- Canadian Imperial Bank of Commerce (CIBC)
- Rate
- Wall Street Journal Prime Rate subject to a floor of 6.25%
- Maturity
- March 3, 2027
- Event
- amendment
Exact text from the filing
subject to achieving a minimum trailing 12 month revenue exceeding $15,000,000. The exercise of the option would result in the size of the revolving commitment increasing from $10,000,000 to a maximum of $15,000,000. Additionally, the Credit Agreement provides that the Company may request a one-time increase in the principal amount of the revolving line of credit
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