Replies to post #3038 on Titan Medical Inc (TMDIF)

[was CUIN2]

If as Chambers said they "Open it Up" today then that would imply that the offer had been completed and closed (completed before the 19th). I think it may go back to my original research and posts which suggested that they could turn the offer on and off dependent upon the trading price each day.

The only other way they could open it up is through the Agent Option of an additional 15% which would have only brought in about another $1.3 million or so. Not quite the $2 or $2.5 million Chambers mentioned. Below is the first section of the offering.


Titan Medical Inc. (“Titan” or the “Company”) (TSX VENTURE:TMD)(OTCQX:TITXF) is pleased to announce the terms of its previously announced marketed public offering. Dundee Securities Ltd. (the “Agent”) has agreed to sell 6,430,000 units of the Company (the “Units”) at a price of $1.40 per Unit for total gross proceeds of $9,002,000 (the “Offering”). The Agent has been granted the option to offer for sale up to an additional 15% of the Units issued under the Offering, exercisable in whole or in part at any time up to 30 days following the closing of the Offering (the “Option”). BayFront Capital Partners Ltd. is acting as a selling group member in connection with the Offering.

[chambers]

Titan could have actually raised as much as $45 million according to the off the shelf prospectus they filed.

On Friday they announced the books closed around $9 million (plus the 15% shoes).

They re-opened the offering to allow more. That is it.