09:01 AM EDT, 04/22/2024 (MT Newswires) -- Titan Medical ( TMDIF ) on Monday provided an update on its all-stock planned merger with Conavi Medical that was previously announced on March 18.

Titan and Conavi are working to satisfy the conditions in the amalgamation agreement. Conavi is also working on a concurrent financing of subscription receipts (convertible into Conavi shares immediately the transaction is completed), for between US$15 million and US$20 million.

The combined company will focus on continuing to commercialize Conavi's Novasight Hybrid System designed to guide common minimally invasive coronary procedures.