Titan Medical Inc: Dips after equity raise plans

Conavi Medical

06/03/2019 11:59

** Canadian robotic surgical system maker's U.S-listed
shares  TMDI.O  fall 7.4 pct to $3.5 premarket 
    ** Tuesday after market, Titan said it has filed statements
with regulators for an offering of units and expects to raise
between $20 mln and $25 mln  urn:newsml:reuters.com:*:nBwbn54TRa
    ** Each unit will comprise one common share of the company
and one common share purchase warrant
    ** Titan says it will use the proceeds to fund development
work for its Sport surgical system and towards working capital
and other general purposes 
    ** U.S. and Canadian shares of the company fell about 56 pct
in the past 12 months 

 (Reporting by Manas Mishra in Bengaluru)
 ((Reuters Messaging:
manas.mishra.thomsonreuters.com@reuters.net))