TMDI - Titan Medical announces $15M bought deal offering

Titan Medical (TMDI) has entered into an agreement with Bloom Burton Securities for the purchase of 6.25M units of shares and warrants at a price of $2.40 per unit on a bought deal basis, to raise gross proceeds of $15M.Each unit shall consist of one common share and one half (1/2) of share purchase warrant, with each warrant having an exercise price of $3 per share.The net proceeds of the offering will be used to fund the development of the company’s robotic surgical technologies and for general working capital.The offering is expected to close on or about February 23, 2021.

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Titan Medical announces $15M bought deal offering