Hot news mads Titan Medical Inc. (Nasdaq: TMDI), shares drop in the pre-market today

Titan Medical Inc. (Nasdaq: TMDI) designs and develops surgical technologies for robotic single access surgery, focuses on medical devices. TMDI shares plunged in the pre-market session as it was down -15.98% to $1.58 after the announcement that its board of directors has approved a deal under which Bloom Burton will purchase, on a bought deal basis, 6,451,613 shares of the Company for US$1.55 for aggregate gross proceeds of US$10,000,000.

Get the hottest stocks to trade every day before the market opens 100% free. Click here now. 

One unit consists of one common share in the company’s capital and one-half of a common share purchase warrant. Each Warrant is exercisable for one common share at an exercise price of US$2.00 per share for 60 months from the closing of the Offering.

Discover Tomorrow's Stocks Today!

When it comes to discovering hidden gems within the stock market, Stock Wire News has consistently provided invaluable insights. Stock Wire News invites you to explore their upcoming Wealth Building Report. This report will shine a spotlight on little-known companies with the potential for substantial growth in 2024, and it's completely FREE for a limited time.

Claim the free report now by clicking here and start discovering the hidden gems of the market
Sponsored

Read More

Underwriters have been granted an option to purchase up to an additional 15% of the number of Units initially sold under the Offering at the Offering Price.

Proceeds from the Offering will develop the company’s robotic surgical technologies and general working capital. Under normal circumstances, the Offering is expected to close by January 29, 2021, or at another agreed-upon date by the Company and the Underwriters. These conditions are subject to the receipt of all necessary regulatory, stock market, and other approvals, including the Toronto Stock Exchange’s support.

Most Popular

Related posts