TransEnterix, Inc. (NYSE MKT:TRXC), a medical device company that is
pioneering the use of flexible instruments and robotics to improve
minimally invasive surgery, today announced that the underwriters of its
previously announced public offering of common stock partially exercised
the over-allotment option granted at the time of the public offering and
have purchased 1,610,000 shares of common stock at the public offering
price of $4.00 per share, less underwriting discounts and commissions.
Net proceeds from the original sale of 12.5 million shares on April 21,
2014, and the exercise of the overallotment option on May 5, 2014, after
deducting underwriting discounts and commissions and other estimated
offering expenses, are expected to be approximately $52.2 million.
As previously announced, net proceeds from this offering will be used
for research and development, sales and marketing, and commercialization
related to its SurgiBotTM system, working capital and other
general corporate purposes.
Stifel and RBC Capital Markets acted as the joint book-running managers
and Ladenburg Thalmann & Co. and Raymond James acted as co-managers for
the offering.
This offering was made pursuant to a preliminary prospectus supplement
and accompanying prospectus dated April 2, 2014, filed as part of
TransEnterix’s effective $100 million shelf registration statement.
Copies of the preliminary prospectus supplement and accompanying
prospectus relating to these securities may be obtained by contacting
Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One
Montgomery Street, Suite 3700, San Francisco, California 94104, by
calling (415) 364-2720 or by emailing SyndicateOps@stifel.com,
or RBC Capital Markets, LLC, Attention: Equity Syndicate, Three World
Financial Center, 200 Vesey Street, 8th Floor, New York, New York 10281
by calling (877) 822-4089 or by faxing (212) 428-6260.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor will there be any
sale of these securities in any state or other 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 other
jurisdiction.
About TransEnterix
TransEnterix is a medical device company that is pioneering the use of
flexible instruments and robotics to improve minimally invasive surgery.
The Company is focused on the development and commercialization of
SurgiBot™, a minimally invasive surgical robotic system that allows the
surgeon to be patient-side within the sterile field. For more
information, visit the company's website at www.transenterix.com.
Forward-Looking Statements
This press release includes statements relating to the offering of
our common stock. 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 our expectations regarding the offering and use
of proceeds. For a discussion of the most significant risks and
uncertainties associated with TransEnterix's business, please review our
filings with the Securities and Exchange Commission (SEC), including our
Annual Report on Form 10-K for the year ended December 31, 2013 and
subsequent SEC reports. 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 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.
Copyright Business Wire 2014