Financial

Titan Medical closes $12m offering

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Titan Medical (CVE:TMD) said it grossed about $11.5 million (C$15.1 million) in a public offering of shares and warrants that closed yesterday.

The Toronto-based robot-assisted surgery company said it sold nearly 15.1 million unit at 76¢ (C$1) apiece. Each unit consisted of a common share and a 5-year warrant priced at 92¢ (C$1.20). The offering included the sale of 191,000 units to a company insider, Titan said.

The company said the proceeds are earmarked in part for optimization trials and cadaver labs for its Sport platform.

 

Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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