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Titan Medical Inc. (TMD, TMDI) announced that its President and CEO David McNally, along with CFO Monique Delorme, will participate in two virtual investor conferences. On March 16, 2021, Titan will host one-on-one investor meetings at the 33rd Annual ROTH Conference. Following that, on March 17, 2021, at 2:30 p.m. ET, the company will join a fireside chat to discuss its Enos™ robotic single access surgical system during the Oppenheimer 31st Annual Healthcare Conference. Interested parties can access the events through the company’s website.
Titan Medical Inc. (TMD, TMDI) has announced a corporate update during the H.C. Wainwright Global Life Sciences Conference, highlighting its Enos™ robotic single access surgical system. The system aims to reduce trauma and enhance recovery in gynecologic surgeries, tapping into a potential $18 billion U.S. surgical robotics market. Titan's strong cash position of approximately $65.5 million supports its aggressive development timeline, with plans for a clinical study in 2022 and expected additional license revenue of $21 million in 2021 from its partnership with Medtronic.
Titan Medical Inc. (TSX: TMD, Nasdaq: TMDI) has successfully closed its offering of 8,335,000 units, yielding gross proceeds of $20,004,000. An additional 1,250,250 units were sold due to over-allotment, bringing total gross proceeds to $23,004,600. Each unit consists of one common share and one-half warrant, with full warrants priced at $3.00 until February 24, 2023. Proceeds will fund the development of robotic surgical technologies and support general working capital.
Titan Medical Inc. (TMD, TMDI) reported a significant year in 2020, achieving $20.0 million in revenue primarily through agreements with Medtronic. This included securing roughly $22.0 million from equity financings and a $1.5 million senior loan from Medtronic. Cash reserves improved to approximately $25.5 million by year-end 2020, up from $0.8 million in 2019. The company plans to commence human clinical studies for its Enos™ robotic system and expects to raise an additional $20.0 million in financing soon.
Titan Medical Inc. (TSX: TMD, Nasdaq: TMDI) announced a final short form prospectus for an offering of 8,335,000 units at US$2.40 each, aiming for gross proceeds of US$20,004,000. Each unit includes one common share and half a warrant, with warrants exercisable at US$3.00 for 24 months. The offering is set to close around February 24, 2021, pending regulatory approvals. Proceeds will fund the development of robotic surgical technologies and for general working capital. Titan's Enos™ system focuses on single access surgery, initially targeting gynecological procedures.
Titan Medical Inc. (TMD, TMDI) has launched "Titan Living Labs," a media-rich section on its website that showcases the engineering and design stories behind its Enos robotic single access surgical system. CEO David McNally emphasized the initiative highlights the team's intellectual capital and innovative approaches to robotic surgery. The Enos system is developed with advanced 3D and 2D vision systems and ergonomic design, initially targeting gynecologic surgical applications. Titan retains global commercialization rights for its technologies licensed to Medtronic.
Titan Medical Inc. (TMD, TMDI) is set to release its fourth quarter and year-end financial results on February 22, 2021, before market opening. A management-led investor audio webcast will follow at 4:30 PM ET to discuss these results.
The company specializes in developing robotic surgical technologies, particularly the Enos™ system, which focuses on gynecologic surgical applications. Previously, certain technologies have been licensed to Medtronic, retaining commercialization rights for the Enos system.
Titan Medical, a medical device company focused on robotic single access surgery, has filed a preliminary prospectus for a bought deal offering of 8,335,000 units at $2.40 each, totaling gross proceeds of $20 million. Each unit includes one common share and half a warrant, exercisable at $3.00 within 24 months. The underwriter, Bloom Burton Securities, has a 15% overallotment option. Proceeds will support robotic surgical technology development and general working capital. The offering's close is anticipated around February 23, 2021, pending regulatory approvals.
Titan Medical Inc. (TMD, TMDI) has announced a revised agreement with Bloom Burton Securities to increase its bought deal offering. The Underwriter will purchase 8,335,000 units at $2.40 each, generating gross proceeds of $20,004,000. Each unit consists of one common share and a half warrant, exercisable at $3.00 for 24 months. An Over-Allotment Option allows for an additional 15% of units, potentially raising total proceeds to $23,004,600. The funds will support development of robotic surgical technologies and working capital. Closing is expected on February 23, 2021, subject to regulatory approvals.
Titan Medical has entered a bought deal agreement with Bloom Burton Securities to issue 6,250,000 units at $2.40 each, resulting in total gross proceeds of $15 million. Each unit comprises one common share and one-half warrant, with warrants exercisable at $3.00 for 24 months. The Underwriter holds a 15% over-allotment option. Proceeds will fund the development of robotic surgical technologies and general working capital. The offering is subject to regulatory approvals and is expected to close around February 23, 2021.
