TransEnterix Announces Closing Of $15.0 Million Underwritten Public Offering Including Full Exercise Of Over-Allotment Option

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...
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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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