Titan Medical Announces Pricing of Marketed Offering
25 Outubro 2019 - 10:32AM
Business Wire
Titan Medical Inc. (“Titan” or the
“Company”) (TSX:TMD) (Nasdaq:TMDI), a medical
device company focused on the design, development and
commercialization of a robotic surgical system for application in
minimally invasive surgery (“MIS”), is pleased to announce
today that it has priced its previously announced marketed offering
(the “Offering”) of units of the Company (the
“Units”). Pursuant to the Offering, Titan will issue Units
at a price of US $0.45 per Unit for total gross proceeds of a
minimum of US $15,000,000 and a maximum of US $25,000,000. Each
Unit is comprised of one common share of the Company (a “Common
Share”) and one Common Share purchase warrant of the Company (a
“Warrant”). Each Warrant is exercisable for one Common Share
at a price of US $0.55, for a period of 5 years following the
closing of the Offering.
An amended and restated preliminary short form prospectus dated
October 15, 2019 (the “A&R Preliminary
Prospectus”) has been filed in each of the provinces of
Ontario, British Columbia and Alberta pursuant to National
Instrument 44-101 - Short Form Prospectus Distributions and a
corresponding registration statement on Form F-10 (the
“Registration Statement”) has been filed with the United
States Securities and Exchange Commission under the U.S.-Canada
Multijurisdictional Disclosure System, each in respect of the
Offering.
The Offering will be undertaken on a best efforts basis pursuant
to the terms and conditions of an agency agreement to be entered
into between the Company and Bloom Burton Securities Inc. (the
“Agent) and the Agent has appointed Northland Securities,
Inc. as sub-agent with respect to the offer and sale of the Units
in the United States. In connection with the Offering, the Agent
will be paid a cash commission equal to 7.0% of the gross proceeds
of the Offering and it will be issued that number of
non-transferable broker warrants exercisable for Common Shares
equal to 7.0% of the number of Units sold in the Offering. The
Company also expects to grant to the Agent a 30-day over-allotment
option to sell up to an additional 15% of the number of Units
and/or Warrants offered in the Offering.
It is expected that closing of the Offering will occur on or
about October 31, 2019, or such other date or dates as the Company
and the Agent may agree.
The net proceeds of the Offering will be used to fund continued
development work in connection with the Company’s robotic surgical
system, as well as for working capital and other general corporate
purposes. Further details are disclosed in the A&R Preliminary
Prospectus, available at www.sedar.com and the Registration
Statement, available at www.sec.gov.
The Offering is subject to a number of customary conditions,
including, without limitation, receipt of all regulatory and stock
exchange approvals. The Registration Statement has not yet become
effective. The Units may not be sold nor may offers to buy be
accepted in the United States prior to the time the Registration
Statement becomes effective. This news release shall not constitute
an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of the Units, in any province, state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of such province, state or jurisdiction.
About Titan
Titan Medical Inc. is focused on computer-assisted robotic
surgical technologies for application in MIS. The Company is
developing a single-port robotic surgical system comprised of a
surgeon-controlled patient cart that includes a dual-view camera
system with 3D and 2D high-definition vision options and
multi-articulating instruments for performing MIS procedures, and a
surgeon workstation that provides an advanced ergonomic interface
to the patient cart and a 3D endoscopic view inside the patient’s
body. Titan intends to initially pursue gynecologic surgical
indications for use of its single-port robotic surgical system.
For more information, please visit the Company’s website at
www.titanmedicalinc.com.
Forward-Looking Statements
This news release contains “forward-looking statements” within
the meaning of applicable Canadian and U.S. securities laws. Such
statements reflect the current expectations of management of the
Company’s future growth, results of operations, performance and
business prospects and opportunities. Wherever possible, words such
as “may”, “would”, “could”, “will”, “anticipate”, “believe”,
“plan”, “expect”, “intend”, “estimate”, “potential for” and similar
expressions have been used to identify these forward-looking
statements. These statements, including with respect to the size of
the Offering, the granting of the over-allotment option, the
closing date of the Offering and the use of the net proceeds of the
Offering, reflect management’s current beliefs with respect to
future events and are based on information currently available to
management. Forward-looking statements involve significant risks,
uncertainties and assumptions. Many factors could cause the
Company’s actual results, performance or achievements to be
materially different from any future results, performance or
achievements that may be expressed or implied by such
forward-looking statements, including, without limitation, those
listed in the “Risk Factors” section of the Company’s Annual
Information Form dated March 29, 2019 (which may be viewed at
www.sedar.com). Should one or more of
these risks or uncertainties materialize, or should assumptions
underlying the forward-looking statements prove incorrect, actual
results, performance, or achievements may vary materially from
those expressed or implied by the forward-looking statements
contained in this news release. These factors should be considered
carefully, and prospective investors should not place undue
reliance on the forward-looking statements. Although the
forward-looking statements contained in the news release are based
upon what management currently believes to be reasonable
assumptions, the Company cannot assure prospective investors that
actual results, performance or achievements will be consistent with
these forward-looking statements. Except as required by law, the
Company expressly disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191025005280/en/
LHA Investor Relations Kim Sutton Golodetz (212) 838-3777
kgolodetz@lhai.com
or
Bruce Voss (310) 691-7100 bvoss@lhai.com
Titan Medical (NASDAQ:TMDI)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Titan Medical (NASDAQ:TMDI)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024