Date Closed: 12/5/2017
Value: C$23 million
On December 5, 2017, Titan Medical Inc. (Titan or the Company) (TSX: TMD) (OTCQB: TITXF) completed its public offering (the Offering) pursuant to an agency agreement between the Company and Bloom Burton Securities Inc.
The company issued 46,000,000 units (the Units) for gross proceeds of CDN $23,000,000. Each Unit was issued at a price of CDN $0.50 per Unit and is comprised of one common share of the Company (a Common Share) and one warrant entitling the holder to purchase one Common Share at a price of CDN $0.60 until expiry on December 5, 2022.
Titan, headquartered in Toronto, Ontario, is focused on the design and development of a robotic surgical system for application in minimally invasive surgery.