TransEnterix Announces Closing of $15.0 Million Underwritten Public Offering including Full Exercise of Over-Allotment Option
July 06 2020 - 4:05PM
Business Wire
TransEnterix, Inc. (NYSE American: TRXC), a medical device
company that is digitizing the interface between the surgeon and
the patient to improve minimally invasive surgery, today announced
the closing of its previously announced underwritten public
offering, with total gross proceeds of approximately $15.0 million,
which includes the full exercise of the underwriter’s
over-allotment option to purchase additional shares, prior to
deducting underwriting discounts and commissions and offering
expenses payable by TransEnterix.
A total of 42,857,142 shares of common stock were issued in the
offering, including the full exercise of the over-allotment option,
at a public offering price of $0.35 per share, with total net
proceeds of approximately $13.7 million. The Company currently
intends to use the net proceeds of this offering for general
corporate purposes, including working capital.
Ladenburg Thalmann & Co. Inc. acted as sole book-running
manager in connection with the offering.
A shelf registration statement relating to the shares of Common
Stock being sold in this offering was previously filed with the
U.S. Securities and Exchange Commission (the “SEC”) on January 31,
2020 and was declared effective on February 10, 2020. The offering
was made by means of a prospectus supplement and accompanying
prospectus relating to and describing the terms of the offering
which were filed with the SEC and are available on the SEC's
website located at http://www.sec.gov. Copies of the final
prospectus supplement can be obtained at the SEC's website at
https://www.sec.gov/ or from Ladenburg Thalmann & Co. Inc.,
Prospectus Department, 277 Park Avenue, 26th Floor, New York, New
York 10172 or by email at prospectus@ladenburg.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sales of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction.
About TransEnterix
At TransEnterix, Inc., we are digitizing the interface between
the surgeon and the patient to improve minimally invasive surgery
(MIS) through a new category of care called Digital Laparoscopy.
Digitizing the interface enables the use of advanced capabilities
like augmented intelligence, connectivity and robotics in
laparoscopy, and allows us to address the current clinical,
cognitive and economic shortcomings in surgery. The Senhance®
Surgical System brings the benefits of Digital Laparoscopy to
patients around the world while staying true to the principles of
value-based healthcare. Learn more about Digital Laparoscopy with
the Senhance Surgical System here: https://Senhance.com/. Now
available for sale in the US, the EU, Japan, and select other
countries. For a complete list of indications for use, please visit
https://www.transenterix.com/indications-for-use/.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements about the intended use of proceeds from
the offering. These statements involve significant risks and
uncertainties, including those discussed in the prospectus
supplement related to the offering and in our annual report on Form
10-K for the fiscal year ended December 31, 2019 and our other
filings with the SEC. Because these statements reflect our current
expectations concerning future events, our actual results could
differ materially from those anticipated in these forward-looking
statements as a result of many factors. We are providing this
information as of July 6, 2020. We undertake no duty to update any
forward-looking statements to reflect the occurrence of events or
circumstances after the date of such statements or of anticipated
or unanticipated events that alter any assumptions underlying such
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20200706005524/en/
Investor Contact: Mark Klausner, +1 443-213-0501
invest@transenterix.com or Media Contact: Terri Clevenger, +1
203-682-8297 terri.clevenger@icrinc.com
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