TransEnterix Announces $31.25 Million Registered Direct Offering of Common Stock
January 12 2021 - 7:50AM
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
that it has entered into securities purchase agreements with
several institutional investors for the purchase and sale, in a
registered direct offering of 25,000,000 shares of its common stock
at a purchase price of $1.25 per share for gross proceeds of $31.25
million. The offering is expected to close on or about January 14,
2021, subject to satisfaction of customary closing conditions.
TransEnterix intends to use the net proceeds from the registered
direct offering to for general corporate purposes, including
working capital.
H.C. Wainwright & Co. is acting as exclusive placement agent
for the offering.
A shelf registration statement on Form S-3 (File No. 333-236200)
relating to the registered direct offering of the shares of common
stock described above was filed with the Securities and Exchange
Commission (“SEC”) and was declared effective on February 10, 2020.
The offering of the shares of common stock is being made only by
means of a prospectus supplement and accompanying prospectus that
forms a part of the registration statement. Electronic copies of
the final prospectus supplement and the accompanying prospectus
will be filed with the SEC and may be obtained, when available,
from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor,
New York, NY 10022, by calling (646) 975-6996 or by emailing
placements@hcwco.com or at the SEC’s website at
http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
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. Our Senhance®
Surgical System features the first machine vision system for use in
robotic surgery which is powered by the new Intelligent Surgical
Unit™ (ISU™) that enables augmented intelligence 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, Russia, 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 includes statements relating to the
registered direct offering of common stock and expected proceeds
receivable by us. These statements and other statements regarding
our future plans and goals constitute "forward looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, and are
intended to qualify for the safe harbor from liability established
by the Private Securities Litigation Reform Act of 1995. Such
statements are subject to risks and uncertainties that are often
difficult to predict, are beyond our control and which may cause
results to differ materially from expectations and include market
and other conditions and statements regarding the consummation of
the registered direct offering, the satisfaction of customary
closing conditions related to the registered direct offering and
the intended use of net proceeds from the registered direct
offering; whether we will be able to continue to progress our
strategic plan in 2021; whether and the jurisdictions where the
Senhance Surgical System is available for sale provides an
opportunity to grow Senhance Surgical System placements and sales,
including in Russia; whether we can continue to increase Senhance
System placements and sales, whether we can continue to add
foundational sites and receive regulatory clearances and approvals
that we seek, and whether we can continue to support our operations
through capital raising transactions, as needed.. For a discussion
of the risks and uncertainties associated with TransEnterix's
business, please review our filings with the Securities and
Exchange Commission (SEC). You are cautioned not to place undue
reliance on these forward-looking statements, which are based on
our expectations as of the date of this press release and speak
only as of the origination date of this press release. We undertake
no obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210112005597/en/
For TransEnterix, Inc. 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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