trending Market Intelligence /marketintelligence/en/news-insights/trending/XKje_CjuVL_CWWp75WIehg2 content esgSubNav
In This List

Titan Medical to raise up to US$22M in overnight marketed units offering

Blog

A Pharmaceutical Company Capitalizes on M&A Activity with Brokerage Research

Blog

2021 Year in Review: Highlighting Key Investment Banking Trends

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Global M&A By the Numbers: Q3 2021


Titan Medical to raise up to US$22M in overnight marketed units offering

Titan Medical Inc. filed for a proposed overnight marketed offering of units to raise gross proceeds of between US$18 million and US$22 million.

Each unit will comprise 1 common share and 1 common share purchase warrant. The offering will be undertaken on a best efforts agency basis.

Toronto-based Titan Medical, which develops computer-assisted robotic technologies for minimally invasive surgery, will use net proceeds to fund the development of its single-port robotic surgical system, as well as for working capital and other general corporate purposes.

The offering is expected to close on or about Oct. 8, subject to certain conditions.

Bloom Burton Securities Inc. will serve as agent for the offering, while Northland Securities Inc. will be subagent.

The agent will have a 30-day overallotment option to sell up to an additional 15% of the number of units and warrants in the offering.