Titan Medical Inc (TMDIF)

[Honeycomb777]

Well at $300M - you would break it down as follows:

Assuming NO fund raise here / I doubt it happens at this stage

34M current o/s + 6.6M $3.20's plus 8.5M $4's = 49.1M (call it 51M with some brokered warrants and stock options)

$300M divided by 51M then outstanding shares = $5.88 PPS

thing is it wouldn't cost the acquirer that much as warrant exercise cash would flow into Trsy of ~ $55M. That would be cash on the balance sheet of the biggun then.

Effective cost in this example would be $245M for the acquirer (in US Dollars)