Titan Medical has entered a bought deal agreement with Bloom Burton Securities to issue 6,250,000 units at $2.40 each, resulting in total gross proceeds of $15 million. Each unit comprises one common share and one-half warrant, with warrants exercisable at $3.00 for 24 months. The Underwriter holds a 15% over-allotment option. Proceeds will fund the development of robotic surgical technologies and general working capital. The offering is subject to regulatory approvals and is expected to close around February 23, 2021.
Titan Medical, trading as TMD on TSX and TMDI on Nasdaq, announced the successful closure of an offering of 6,451,613 Units for gross proceeds of approximately US $10 million. The underwriter, Bloom Burton Securities, exercised an over-allotment option, leading to additional proceeds totaling US $11.5 million. Each Unit consists of one common share and half a warrant, exercisable at US $2.00 until January 2026. Funds will support the development of robotic surgical technologies and general working capital.
Titan Medical Inc. (TMD, TMDI) has filed a final short form prospectus related to its offering of 6,451,613 units at US$1.55 per unit, aiming to raise US$10 million. Each unit comprises one common share and one-half warrant exercisable at US$2.00 for five years. The offering is underwritten by Bloom Burton Securities Inc. and is expected to close on January 26, 2021. Proceeds will advance robotic surgical technology development and general working capital. Related party transactions involve insiders purchasing 39,500 units for $61,225, relying on exemptions from formal valuation and approval requirements.
Titan Medical announced the filing of a preliminary short form prospectus to offer 6,451,613 units at US$1.55 per unit, aiming for gross proceeds of US$10,000,000. Each unit includes one common share and a half-share purchase warrant, exercisable at US$2.00 in five years. The offering's net proceeds will fund robotic surgical technology development and general working capital. A 15% overallotment option is available to the underwriter. Related party transactions involve insiders purchasing 39,500 units for $61,225.
Titan Medical Inc. (TSX: TMD, Nasdaq: TMDI) has announced a $10 million offering through a bought deal with Bloom Burton Securities. The company will issue 6,451,613 units at $1.55 each, with each unit comprising a common share and a warrant. The funds will support the development of its robotic surgical technologies and general working capital. The offering is set to close around January 29, 2021, pending regulatory approval. An over-allotment option allows the underwriter to purchase an additional 15% of units sold.
Titan Medical Inc. (TSX: TMD, Nasdaq: TMDI) has announced it has cured its bid price deficiency and regained compliance with Nasdaq listing requirements as of December 24, 2020. The company focuses on developing robotic-assisted technologies for single-access surgery, particularly through its Enos system, which integrates advanced imaging and ergonomic design to enhance surgical procedures. Titan retains worldwide rights for commercializing certain technologies that have been licensed to Medtronic, aiming to set new standards in gynecologic surgery.