Profound Medical (TSX:PRN; OTCQX:PRFMF) implemented a one-for-10 consolidation of its shares outstanding to qualify for a potential listing on The NASDAQ Stock Market.
Shareholders approved the consolidation at the annual and special meeting on June 13, 2019. The common shares are expected to begin trading on a consolidated basis on the TSX on Oct. 16, under the same trading symbol.
Profound currently has about 118.5 million common shares outstanding and the consolidation is expected to result in 11.8 million shares outstanding. The company has applied to list its common stock on NASDAQ under the symbol, PRN, subject to satisfaction of all necessary listing requirements.