Titan Medical Announces Closing of US $23M Bought Deal Offering Including Full Exercise of…

first_img Previous articleOfficial injured after buzzer of Rutgers-Michigan State gameNext articleSyracuse hires Mike Schmidt as offensive line coach Digital AIM Web Support Twitter WhatsApp TORONTO–(BUSINESS WIRE)–Feb 24, 2021– Titan Medical Inc. (“ Titan ” or the “ Company ”) ( TSX: TMD ) ( Nasdaq: TMDI ), a medical device company focused on the design and development of surgical technologies for robotic single access surgery, announced today that it closed its previously announced offering of 8,335,000 units of the Company (“ Units ”) sold on a “bought deal” basis for gross proceeds of US $20,004,000 (the “ Offering ”). Bloom Burton Securities Inc. acted as underwriter for the Offering and exercised its over-allotment option in full on the date hereof for an additional 1,250,250 Units and additional gross proceeds to the Company of US $3,000,600. The aggregate gross proceeds to the Company under the Offering were US $23,004,600. Each Unit was issued at a price of US $2.40 per Unit and consisted of one common share in the capital of the Company (each a “ Common Share ”) and one half (1/2) of one Common Share purchase warrant (each whole warrant, a “ Warrant ”). Each Warrant is exercisable to acquire one Common Share at an exercise price of US $3.00 per share until February 24, 2023. The net proceeds of the Offering will be used to fund the development of the Company’s robotic surgical technologies and for general working capital. The Units were offered by way of a short form prospectus in each of the provinces of British Columbia, Alberta, and Ontario pursuant to National Instrument 44-101 – Short Form Prospectus Distributions, and by way of private placement in the United States and to, or for the account or benefit of, “U.S. persons” (as defined in Regulation S under the United States Securities Act of 1933, as amended (the “ 1933 Act ”)) pursuant to exemptions from the registration requirements under the 1933 Act, and pursuant to the applicable securities laws of any state of the United States. The securities referred to in this news release have not been, nor will they be, registered under the 1933 Act and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This press release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities in the United States, nor in any other jurisdiction in which such offer, solicitation or sale would be unlawful. About Titan Medical Titan Medical Inc., a medical device company headquartered in Toronto, is focused on developing robotic assisted technologies for application in single access surgery. The Enos™ system, by Titan Medical, is being developed with dual 3D and 2D high-definition vision systems, multi-articulating instruments, and an ergonomic surgeon workstation. With the Enos system, Titan intends to initially pursue gynecologic surgical indications. Certain of Titan’s robotic assisted surgical technologies and related intellectual property have been licensed to Medtronic plc, while retaining world-wide rights to commercialize the technologies for use with the Enos system. Enos™ is a trademark of Titan Medical Inc. For more information, visit www.titanmedicalinc.com. Forward-Looking Statements of Titan Medical This news release contains “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws. Such statements reflect the current expectations of management of the Company’s future growth, results of operations, performance and business prospects and opportunities. Wherever possible, words such as “may”, “would”, “could”, “will”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “potential for” and similar expressions have been used to identify these forward-looking statements, including, without limitation, references to: the Company’s focus on the design and development of surgical technologies for robotic single access surgery, the use of proceeds from the Offering, that the Enos system is being developed with dual 3D and 2D high-definition vision systems, multi-articulating instruments and an ergonomic surgeon workstation and that Titan intends to initially pursue gynecologic surgical indications. These statements reflect management’s current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, without limitation, those listed in the “Risk Factors” section of the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2019 (which may be viewed at www.sedar.com and at www.sec.gov ) and in the “Risk Factors” section of the Company’s prospectus related to the Offering (which may be viewed at www.sedar.com ). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance, or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in the news release are based upon what management currently believes to be reasonable assumptions, the Company cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements. Except as required by law, the Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. View source version on businesswire.com:https://www.businesswire.com/news/home/20210224005654/en/ CONTACT: Monique L. Delorme Chief Financial Officer +1-416-548-7522 [email protected] KEYWORD: UNITED STATES NORTH AMERICA CANADA INDUSTRY KEYWORD: BIOTECHNOLOGY FINANCE SURGERY HEALTH MEDICAL DEVICES PROFESSIONAL SERVICES TECHNOLOGY OTHER TECHNOLOGY SOURCE: Titan Medical Inc. Copyright Business Wire 2021. PUB: 02/24/2021 09:22 AM/DISC: 02/24/2021 09:22 AM http://www.businesswire.com/news/home/20210224005654/en Twitter Pinterest Titan Medical Announces Closing of US $23M Bought Deal Offering Including Full Exercise of Over-Allotment Option Facebookcenter_img TAGS  WhatsApp Local NewsBusiness By Digital AIM Web Support – April 6, 2021 Facebook Pinterestlast_img read more

Tweet On Navratri: Jammu & Kashmir High Court Refuses To Stay Investigation Against Advocate Deepika Singh Rajawat

first_imgNews UpdatesTweet On Navratri: Jammu & Kashmir High Court Refuses To Stay Investigation Against Advocate Deepika Singh Rajawat Sparsh Upadhyay26 Nov 2020 9:37 PMShare This – xThe Jammu and Kashmir High Court on Wednesday (25th November) refused to interfere in an ongoing investigation in relation to an FIR registered against Advocate Deepika Singh Rajawat by J&K police for her tweet on Navratri/Navratras.The Bench of Justice Sanjay Dhar specifically observed,”At this stage, it may not be appropriate to go into the merits of the rival contentions of the…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Jammu and Kashmir High Court on Wednesday (25th November) refused to interfere in an ongoing investigation in relation to an FIR registered against Advocate Deepika Singh Rajawat by J&K police for her tweet on Navratri/Navratras.The Bench of Justice Sanjay Dhar specifically observed,”At this stage, it may not be appropriate to go into the merits of the rival contentions of the parties and it will also be not proper to interfere in the investigation of the FIR, which is stated to be at its infancy.”However, the Court said that before a final view is taken in the matter by the Investigating Agency, “this Court needs to go into the issues raised in the instant petition.”It is pertinent to note that in the FIR registered against her, she had already been admitted to anticipatory bail by the Principal Sessions Judge, Jammu.In the aforesaid circumstances, the Court directed.”The investigation in the FIR may continue but the final report shall not be filed by the Investigating Agency before the competent Court without permission of this Court.”Case against RajawatThe petitioner- Advocate Dipika Singh Rajawat challenged FIR No.174/2020 registered against her for offences under Section 295-A and 505(2) IPC registered at Police Station, Gandhi Nagar, Jammu (for allegedly hurting religious sentiments of a community in her tweet on Navratri).Notably, on October 19, Rajawat had tweeted a cartoon, contrasting women safety with Devi pujan offered on Navratri, with a caption “Irony”.The picture juxtaposed two scenes: in one scene, a man touching feet of a female Hindu deity during the nine-day Hindu festival of Navratri; in the other scene, with the header other days, a man is aggressively holding both the legs of a woman.Rajawat had stated that she posted the said tweet “with an objective to raise voice against increasing rape cases in India and condemn people who bring atrocities on Women”.She further stated,”The said picture which highlights the hypocrisy of society towards women was not about religion. It neither abuse Hindu religion nor religious faith of Hindus.”The Senior Counsel appearing for her, contended that if “we have a look at the image that was tweeted by the petitioner, it does not, in any manner, hurt the religious feeling of any community, inasmuch as it simply depicts that the women are being revered during Navratras festival, whereas similar treatment is not given to them during rest of the days of the year.”Earlier, in her anticipatory bail plea, she had alleged that her tweet was painted communally by the BJP IT Cell, which also started an online campaign against her on social media demanding her arrest, and promoted the hashtag— #ArrestDeepikaSinghRajawat.Thereafter, Rajawat made several tweets, alleging that she was being threatened by the public and was “Not feeling safe” anymore. She also alleged that a mob had assembled outside her residence, and raised slogans against her.To this, the AAG submitted before the Court that she “has herself admitted in her petition that as a reaction to her aforesaid tweet, a particular outfit felt agitated and they held demonstration in front of her residence as a consequence whereof she had to approach the police for her protection.”On this basis, the AAG submitted that, “at this stage, it cannot be stated that the act of the petitioner has not hurt the feelings of any section of the community.”Rajawat had represented the Kathua gangrape victim in 2018.The matter has now been posted for further hearing on 09.02.2021. The Court has directed the respondents to file their response.Case title – Deepika Singh Rajawat v. Union territory of J&K and others [CRM(M) No.405/2020 CrlM Nos1528 & 1529 of 2020]Click Here To Download Order[Read Order]Next Storylast_img read more