Replies to post #2663 on Titan Medical Inc (TMDIF)

[was CUIN2]

I think they intend to go it alone...

Here is the release... Why is pertinent information omitted (PPS and number of shares being issued)? Compare to the other offering releases.


Titan Medical Inc. (“Titan” or the “Company”) (TSX VENTURE:TMD)(OTCQX:TITXF) has announced today that it has entered into an agreement with Dundee Securities Ltd. (the “Agent”) under which the Agent has agreed to offer for sale, on an overnight marketed “best efforts” basis, units of the Company (the “Units”), each Unit consisting of one common share and one common share purchase warrant, details of which will be determined in the context of the market (the “Offering”). The Agent has been granted the option to offer for sale up to an additional 15% of Units issued under the Offering, exercisable in whole or in part at any time up to 30 days following the closing of the Offering. In connection with the Offering, BayFront Capital Partners Ltd. has been appointed as a selling group member.

The Offering is scheduled to close on or about February 19, 2014. The Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals. The Units will be qualified for sale by way of a prospectus supplement to the Company’s short form base shelf prospectus dated October 15, 2012, which will be filed in the Provinces of British Columbia, Alberta and Ontario.

The net proceeds will be used for ongoing development and commercialization of robotic surgery technologies and general working capital requirements.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

[bobwehadababy]

Call HC777 crazy (and maybe me as well) but I have wondered for some time now if Titan isn't in contact with a buyer already. That would explain lack of PR's, larger than normal financing, etc.

There has been much discussion on this board about whether Titan will be bought out or become the next ISRG. I think without question the exit stratergy has always been a buyout. This is a small development stage company - a great one, albeit. In contrast, ISRG was a 'big' company from the get-go - for example they had venture cap money from Morgan Stanley & Sierra Ventures. They debuted on the NASDAQ at about $10/share in the year 2000. They were never a penny stock.

All that said, who cares! If we get a buyer willing to pay $30/share then its been a heck of a ride. Anything north of $30 would be incredible, but I am not sure I see that happening. Just IMO