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Titan Medical (CVE:TMD) said it grossed about $11.5 million (C$15.1 million) in a public offering of shares and warrants that closed yesterday.
The Toronto-based robot-assisted surgery company said it sold nearly 15.1 million unit at 76¢ (C$1) apiece. Each unit consisted of a common share and a 5-year warrant priced at 92¢ (C$1.20). The offering included the sale of 191,000 units to a company insider, Titan said.
The company said the proceeds are earmarked in part for optimization trials and cadaver labs for its Sport platform.
