Titan Medical Inc. Announces Terms of Overnight Marketed Equity Offering

Titan Medical Inc. (TSX: TMD, OTCQX: TITXF) has priced its previously announced overnight marketed offering of equity securities.
According to the company’s press release:

Pursuant to the Offering, Titan will issue an aggregate of up to 8,888,889 units of the Company (“Units”) at a price of C$0.90 per Unit (the “Offering Price”) for aggregate gross proceeds of approximately C$8,000,000. Each Unit is comprised of one common share of the Company (a “Common Share”) and one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable at a price of C$1.00 and entitles the holder thereof to acquire one common share of the Company (a “Warrant Share”) for a period of 5 years following the closing of the Offering.

Click here to view the full press release.