August 8, 2018 / 1:54 PM / 4 months ago

BUZZ-Titan Medical: Plunges on units offering

** Shares of Canadian robotic surgical system maker fall 26 pct to C$55.42 in early trade on pricing of units offering

** Co prices each unit at $2.50 for gross proceeds between $16 mln to $20 mln

** Each unit consists of one common share and one 5-year purchase warrant at an exercise price of $3.20

** Net proceeds will be used to fund continued development of co’s Sport Surgical system

** The units will also be offered for sale in the United States, co says

** U.S.-listed shares of Titan Medical fall as much as 26.5 percent to a record low of $2.05

** Co has 14 mln outstanding shares per TR data

** Both Canadian and U.S. shares down about 76 pct this year (Reporting by Medha Singh in Bengaluru)

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