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Titan Medical down 48% on filing amended prospectus and withdrawing milestones

|About: Titan Medical Inc. (TMDI)|By:, SA News Editor

Titan Medical (TMDI -47.7%) has filed an amended and restated preliminary short form prospectus. Titan has also filed form F-10 under the U.S.-Canada Multijurisdictional Disclosure System.

Each of these filings is in connection with a proposed marketed offering of units, with each unit comprised of one common share and one common share purchase warrant of Company for total gross proceeds of a minimum of $15M and a maximum of $25M.

The Company is also withdrawing all milestones with respect to the development plan of its robotic surgical system.

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