Titan Medical: Falls on $10 mln bought deal offering

Conavi Medical

06/01/2021 15:57

** Medical device maker's U.S.-listed shares  TMD.TO 
 TMDI.O  are down 11.9% at $1.65 
    ** Co enters agreement with Bloom Burton Securities and per
deal Bloom will buy 6.4 mln units of TMDI at $1.55 apiece, which
implies a 7.9% discount to stock's last close  urn:newsml:reuters.com:*:nBw6MJFkNa   
    ** Shares on offer represent nearly 8% of co's outstanding
stock - Refinitiv data
    ** Net proceeds of $10 mln will be used to fund the
development of co's robotic surgical technologies, among other
things 
    ** Offering is expected to close on or about Jan. 29


 (Reporting by Lasya Priya M in Bengaluru)
 ((LasyaPriya.M@thomsonreuters.com;))