In connection with the most recent public offering, see below in quotes:
"In connection with the Offering, the Agent will receive a cash commission equal to 6.0% of the gross proceeds raised under the Offering and that number of non-transferable broker warrants equal to 6.0% of the number of Units sold. Each broker warrant will be exercisable into one Unit of the Company for a period of 24 months from the closing of the Offering at a price equal to the Offering price."
I am assuming in Titan's previous public offerings this type of broker incentive was offered as well, so there could be more out there that we are not taking into account and that are not available for purchase on exchanges. In addition, there are also employee stock options that may also be getting redeemed (i.e. Talarico).
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