Benzinga | Jan 12, 2021 07:54AM EST

TransEnterix Announces $31.25M Registered Direct Offering Of Common Stock

TransEnterix, Inc. (NYSE: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.