Titan Medical Inc (TMDIF)

[66Mustang]

FatDon, I can't say definitely; there's never a guarantee. But here is an Edgar filing of the Schedule 13G filed within the allotted period and showing one person/organization taking ownership of 4.99% of Titan's outstanding shares of stock, just under the ownership limit for much more massive paperwork and responsibilities.

https://www.sec.gov/Archives/edgar/data/840551/000091957420004202/d8560694_13-g.htm

Then here, the 18M shares became 6.5M shares and 11.5M pre-funded warrants; this keeps actual share ownership below some threshold and the rest is pre-funded warrants - paid the cash but haven't taken ownership yet. Subsequent text makes a provision for different share/warrant balance based on the buyer's desire to stay under the 4.99% threshold.

https://www.sec.gov/Archives/edgar/data/840551/000115752320000886/a52232457.htm

From page S14:

"THE OFFERING

Securities Offered
6,500,000 Common Shares, 11,500,000 Pre-Funded Warrants, and Common Warrants to purchase 9,000,000 Common Shares.

Description of Pre-Funded Warrants
If the issuance of Common Shares to a purchaser in the Offering would result in such purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%) of our Common Shares following the consummation of the Offering, then such purchaser may purchase, if they so choose, in lieu of the Common Shares that would result in such excess ownership, a Pre-Funded Warrant to purchase Pre-Funded Warrant Shares and one-half Common Warrant. Each Pre-Funded Warrant will have an exercise price of $0.0001 per Pre-Funded Warrant Share, will be exercisable upon issuance and will expire when exercised in full."

Who besides Armistice took ownership of the 4.99% of outstanding shares? I couldn't find such a filing in Edgar. Only the Armistice one. But everyone is free to do their own research; I'm just telling you why I believe what I believe on this matter.

BTW... your recent alternate venue allows private messaging; I'm not sure why I decided to post this publicly here but... Some inquiries and replies may be better suited to the alternate forum, lest our posts get attacked by folks who wish they weren't true. It happens.



Message in reply to:
So the 18m was Def Steven Boyd and Armistice ??