Titan Medical Inc (TMDIF)

[Geo2014]

If I read your scenario correctly, you are off because you are assuming MDT gives you 1-for-1 in a buyout at either 10,000 share ownership and 50,000 share ownership.

If it is 1-for-1 at 10,000 share ownership, the equivalent share ratio at the same buyout price ($1 billion) is 1 MDT share for every 5 TMDI shares at a 50,000 share ownership. Either way you have $1 million for your total share ownership.