TITAN Medical Inc. Nabs $24 Million Private Placement Deal with Chinese Med Device Distributor
Titan Medical (CVE:TMD) last week said it agreed to a private placement deal with a subsidiary of Chinese medical device distributor Ningbo Long Hengtai International Trade Co. that could wind up being worth more than $24 million.
Toronto-based Titan Medical said the deal with Canada-based Longtai Medical involves an initial, $4 million private placement priced at $1.23 per share, expected to close Nov. 15.
The agreement also includes the right to negotiate for an exclusive distribution deal for the “Sport” single-port orifice robot-assisted surgery platform Titan is developing.
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Toronto-based Titan Medical said the deal with Canada-based Longtai Medical involves an initial, $4 million private placement priced at $1.23 per share, expected to close Nov. 15.
The agreement also includes the right to negotiate for an exclusive distribution deal for the “Sport” single-port orifice robot-assisted surgery platform Titan is developing.
Help employers find you! Check out all the jobs and post your resume.