Date closed: 11/16/2015

Value: C$11.5 million

On November 16, 2015, Titan Medical Inc. (Titan) closed its previously announced public offering made pursuant to an agency agreement between the Company and Octagon Capital Corporation. The Company has sold a base offering of 8,130,081 units and full over-allotment of an additional 1,219,512 Units at a price of C$1.23 per Unit for aggregate gross proceeds of approximately C$11.5 million.

The Company intends to use the net proceeds of the Offering to build five first-in-human units of its SPORT™ Surgical System, and for working capital and other general corporate purposes.

Titan Medical Inc., headquartered in Toronto, Ontario, is focused on the design and development of a robotic surgical system for application in minimally invasive surgery.

BLG represented Titan with a team led by Manoj Pundit that included Andrew Bunston and Colin Cameron-Vendrig (Securities) and Daniel Lang (Tax).