Titan Medical increases offering to $18m

Titan Medical (TSX:TMD) said today it has increased the size of its previously announced offering to between $14.1 million (CDN $18 million) and $18 million (CDN $23 million), up from between $10.2 million (CDN $13 million) and $11.7 million (CDN $15 million).

The Toronto-based company said it is looking to offer units at approximately 39¢ (CDN 50¢) each. Each unit in the offering is comprised of one common share of the company and the purchase warrant for an additional common share, exercisable at 47¢ (CDN 60¢) per share for a period of five years following the offering.

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