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Thanks for sharing !
I thought the loan was 1.3, not 2.3 hmmm
Are you sure this time ? good news ? lol
Ya, a lot of Medtronic folks, hmmm
Perhaps funding will come from Medtronic
Mcnally stepping down...ok well...is this good or bad news ? I see a spike in share price just before close today
"Encode Ideas, L.P. is initiating coverage on Titan Medical, Inc. as a High Conviction Investment Idea."
Who are they ? Legit ?
That's not a Titan Patent. I'm confused why your sharing. Thanks
Linkedin - Who is this guy ? no background info "Joe Talarico Business development at Titan Medical"
Why did MDT make them raise the $18M as a condition ?
fintel indicates they only have 3.7m shares. What am i missing ?
Are you sure ?
Sport, we don't know who bought the $18m. The question is why medtronic ask TDMI to raise the money. What did it have to do with the agreement?
If Medtronic wanted some control of the company they could have given the $18 million they made Titan raise….but they didn’t
Well...did anyone on this board submit a question ?
So why is Titan paying back Medtronic "$296,046 related to certain
legal, transaction and intellectual property related expenses incurred by Medtronic pursuant to the Medtronic agreements" ? What does that have to do with the Loan?
NOTE PAYABLE
During the year, the Company entered into an agreement with Medtronic for a note payable (the “Note”). In connection with the Note, the Company executed and delivered a security agreement in favour of Medtronic (the “Security Agreement”). Under the Note agreement, the Company received $1.5 million in cash and owes an additional $296,046 related to certain
legal, transaction and intellectual property related expenses incurred by Medtronic pursuant to the Medtronic agreements and will bear interest at the rate of 8% per annum. The unpaid principal balance owing under the Note, together with any
accrued and unpaid interest and all other unpaid obligations under the Note, shall be due and payable in full on the earliest to occur of: (i) June 3, 2023, (ii) a Change of Control (as defined in the Note), or (iii) the completion of the last
milestone under the Development Agreement (see Note 2). For the year ended December 31, 2020, the Note has accrued interest of $89,451. The Security Agreement grants a security interest in all of the Company’s present and future property including all personal property, inventory,
equipment, and intellectual property to the Corporate Lender. In addition, Medtronic’s rights and powers include without limitation (a) exercising and enforcing all rights and remedies of a holder of collateral as if Medtronic were the absolute
owner of the collateral, (b) collection of any proceeds arising in respect of all of the Company’s property pledged as security for the loan, (c) license or sublicense, whether on an exclusive or non-exclusive basis, of any of the Company’s
intellectual property for such term and on such conditions and in such manner as Medtronic in its sole judgement determines (taking into account such provisions as may be necessary to protect and preserve such intellectual property), and (d) the
right to enforce its security in the event of a default which may include the appointment of a receiver by instrument or order of the court.
Bigk, filing of March 9th, 2021 , Form D – Notice of Exempt Offering of Securities they picked 506(b) for Justification.
I think more investigating should be done by the group on who exactly purchased the shares.
The Rule 506(b) Safe Harbor
Under Rule 506(b), a “safe harbor” under Section 4(a)(2) of the Securities Act, a company can be assured it is within the Section 4(a)(2) exemption by satisfying certain requirements, including the following:
The company cannot use general solicitation or advertising to market the securities.
Unlike Rule 506(c) discussed below, no accredited investor verification is required.
The company may sell its securities to an unlimited number of “accredited investors” and up to 35 other purchasers. All non-accredited investors, either alone or with a purchaser representative, must be sophisticated—that is, they must have sufficient knowledge and experience in financial and business matters to make them capable of evaluating the merits and risks of the prospective investment.
Companies must decide what information to give to accredited investors, so long as it does not violate the antifraud prohibitions of the federal securities laws. This means that any information a company provides to investors must not contain false or misleading statements. Similarly, a company should not exclude any information if the omission makes what is provided to investors false or misleading. Companies must give non-accredited investors disclosure documents that are generally the same as those used in Regulation A or SEC registered offerings, including financial statements, which in some cases may need to be certified or audited by an accountant. If a company provides information to accredited investors, it must make this information available to non-accredited investors as well.
The company must be available to answer questions by prospective Purchasers.
Rule 506(b) might be a good be a better option than Rule 506(c) for a friends and family round because:
The issuer can raise an unlimited amount of money from accredited investors and up to 35 non-accredited investors.
Rule 506(b) does not impose on-going reporting obligations on the Company.
A Form D must be filed only after you receive funds.
Rule 506(b) pre-empts state law even though the states can require a copy of the Form D and filing fee.
Rule 506(b) can be used to raise going public costs prior to the filing of an SEC Registration Statement.
The issuer can conduct a Rule 506(c) offering as it completes its Rule 506(b) offering.
For further information about this securities law blog post, please contact Brenda Hamilton, Securities Attorney at 101 Plaza Real S, Suite 202 N, Boca Raton, Florida, (561) 416-8956, by email at info@securitieslawyer101.com or visit www.securitieslawyer101.com. This securities law blog post is provided as a general informational service to clients and friends of Hamilton & Associates Law Group and should not be construed as, and does not constitute, legal advice on any specific matter, nor does this message create an attorney-client relationship. Please note that the prior results discussed herein do not guarantee similar outcomes.
Hamilton & Associates | Securities Lawyers
Brenda Hamilton, Securities Attorney
101 Plaza Real South, Suite 202 North
Boca Raton, Florida 33432
Telephone: (561) 416-8956
Facsimile: (561) 416-2855
www.SecuritiesLawyer101.com
wow time flies
Patent number: 10624532 , On titan's list
This is all very interesting. We need to find Smoking Gun. Why is it for Perry and not Titan ?
Hi, can anyone explain what that form is for and why it mentions Covidien ?
Thanks
Mike
Don't forget Sachin Sankholkar moving over to MDT !
OR, as I mentioned yesterday, part of the intent of the agreement is indicated as per below
From the agreement, how does this make sense ? Medtronic is helping Titan develop a robot ??
WHEREAS, Titan desires to develop the [Redacted] with financial and certain technical assistance from Medtronic;
maybe I'm missing something
Somewhere in one of Titan's PR indicted the loan would be subtracted from the last Milestone.
From the agreement, how does this make sense ?
WHEREAS, Titan desires to develop the [Redacted] with financial and certain technical assistance from Medtronic;
The Motley Fool Canada article !
Titan anticipates further expanding the company’s patent portfolio by filing additional patent applications as it progresses in the development of robotic surgical technologies and, potentially, by licensing suitable technologies. This should make Titan’s stock more valuable.
The post Value Investors: 1 Pharma Stock With Huge Potential appeared first on The Motley Fool Canada.
From a quick search, I think we was part owner of …
Pharnemonics Inc. Overview
Pharnemonics Inc. filed as a Domestic for Profit Corporation in the State of Florida and is no longer active. This corporate entity was filed approximately seven years ago on Tuesday, September 16, 2014 , according to public records filed with Florida Department of State. There are several officers known to have been associated with this organization at one point
Ms Knight 21 years at Medtronic and Covidien!
HighGround, re your item # 8 "Has anyone quit? Did they sell their shares or keep them?" see item 6 below
So why did Charles and John Retire ? hmm...
Medtronic and Titan Medical entered into a licensing and development agreement for robotic assisted surgery technologies.
Six things to know:
1. Under the agreement, Medtronic will pay Titan Medical up to $31 million in a series of payments to license select technologies. Representatives from both companies will serve on a steering committee to oversee the progress to outlined milestones.
2. One milestone that Titan must achieve is raising an additional $18 million of capital over four months after the start date of the agreement, which will likely be in June 2020.
3. Titan received a $1.5 million senior secured loan from Medtronic on April 29 that will be increased by an amount equal to certain legal, transaction and intellectual property related expenses. The loan is repayable on June 4, 2023, or when the last milestone is completed.
4. Medtronic will have a non-voting observer on Titan's board of directors through the duration of the loan.
5. In a separate agreement, Medtronic paid $10 million to Titan to license certain robotic assisted surgical technologies. Under this agreement, Titan is still able to develop and commercialize those technologies for its own business.
6. Two members of Titan's board, Charles Federico and John Schellhorn, retired from the board when the agreement was approved
Beast, all i see on website is "Annual Meeting of Shareholders" no other info
No sure why AGM is not mentioned/listed on their website in Upcoming Events
Dice, nothing on their website in Coming Events , but below summitted to SEDAR , weird eh
To: All Canadian Securities Regulatory Authorities
AMENDED
Subject: TITAN MEDICAL INC.
Dear Sir/Madam:
We advise of the following with respect to the upcoming Meeting of Security Holders for the subject Issuer:
Meeting Type : Annual General and Special Meeting
Record Date for Notice of Meeting : May 03, 2021
Record Date for Voting (if applicable) : May 03, 2021
Beneficial Ownership Determination Date : May 03, 2021
Meeting Date : June 09, 2021
Meeting Location (if available) : Virtual Meeting
Issuer sending proxy related materials directly to NOBO: No
Issuer paying for delivery to OBO: Yes
Notice and Access (NAA) Requirements:
NAA for Beneficial Holders No
NAA for Registered Holders No
Voting Security Details:
Description CUSIP Number ISIN
COMMON SHARES 88830X819 CA88830X8
Thanks for the update
So why did Charles and John Retire ? hmm...
Medtronic and Titan Medical entered into a licensing and development agreement for robotic assisted surgery technologies.
Six things to know:
1. Under the agreement, Medtronic will pay Titan Medical up to $31 million in a series of payments to license select technologies. Representatives from both companies will serve on a steering committee to oversee the progress to outlined milestones.
2. One milestone that Titan must achieve is raising an additional $18 million of capital over four months after the start date of the agreement, which will likely be in June 2020.
3. Titan received a $1.5 million senior secured loan from Medtronic on April 29 that will be increased by an amount equal to certain legal, transaction and intellectual property related expenses. The loan is repayable on June 4, 2023, or when the last milestone is completed.
4. Medtronic will have a non-voting observer on Titan's board of directors through the duration of the loan.
5. In a separate agreement, Medtronic paid $10 million to Titan to license certain robotic assisted surgical technologies. Under this agreement, Titan is still able to develop and commercialize those technologies for its own business.
6. Two members of Titan's board, Charles Federico and John Schellhorn, retired from the board when the agreement was approved.
Interesting that Chris is responsible for the Medtronic Loan to Titan
Chris is Vice President of Corporate Development for Medtronic, with responsibility for acquisitions, dispositions and minority investments. During 2014, Chris led the corporate development efforts for Medtronic’s $50 billion acquisition of Covidien. Since, Chris and the corporate development team have led more than 35 acquisitions, 25 investments and the $6 billion sale of Covidien medical supply assets to Cardinal Health.
Short volume interest 12% ! last time this low was April 7, 36 mil shares traded
JM, your math is correct …the prediction is Wrong. Maybe divide your answer by 4 to get a more realistic number, In my opinio. LOL
Flenderson, what does this mean "66 out of 66 is evidence enough,"
Adrock, yes...saw that as well, lots on new language regarding Change of control of the Company
Why is Bloom Burton presentation from 4 days ago already expired ???