Titan Medical To Combine With Conavi Medical

(RTTNews) - Titan Medical Inc. (TMDI) announced on Monday that it has entered into a definitive amalgamation agreement with Conavi Medical Inc.

The agreement, dated March 17, 2024, will combine the companies in an all-stock transaction.

The focus of the combined company will be on commercializing Conavi's Novasight Hybrid System, designed to guide common minimally invasive coronary procedures.

Titan will acquire all issued and outstanding shares of Conavi, with Conavi shareholders receiving common shares of Titan in exchange.

After the consolidation and financing, a Titan subsidiary will merge with Conavi, creating a Tier 1 technology issuer on the TSX Venture Exchange.

Finally, upon transaction completion, Titan's officers and certain directors will step down, making way for nominees from Conavi.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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