TransEnterix,
Inc. (NYSE MKT: TRXC),
a medical device company that is pioneering the use of robotics and
flexible instruments to improve minimally invasive surgery, today
announced that the underwriters of its previously announced public
offering of common stock partially exercised the option to purchase
additional shares granted at the time of the public offering and have
purchased 2,075,000 shares of common stock at the public offering price
of $3.00 per share, less underwriting discounts and commissions.
Net proceeds from the original sale of 16,666,667 shares on June 17,
2015, and the partial exercise of the option to purchase additional
shares on July 10, 2015, after deducting underwriting discounts and
commissions and other estimated offering expenses, are expected to be
approximately $52.0 million.
As previously announced, net proceeds from this offering will be used
for research and development, sales, marketing, and commercialization
related to its SurgiBot™ System, working capital and other general
corporate purposes.
Stifel and RBC Capital Markets acted as the joint book-running managers
and Raymond James, BTIG and Ladenburg Thalmann acted as co-managers for
the offering.
This offering was made pursuant to a prospectus supplement dated June
11, 2015 and accompanying prospectus dated December 19, 2014, filed as
part of TransEnterix’s effective $100 million shelf registration
statement. Copies of the 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 Syndprospectus@stifel.com,
or RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY
10281-8098, Attention: Equity Syndicate, by calling (877) 822-4089 or by
emailing equityprospectus@rbccm.com.
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
robotics and flexible instruments to improve minimally invasive surgery
by addressing the economic and clinical challenges associated with
current laparoscopic and robotic options. The company is focused on the
development and commercialization of the SurgiBot System, a robotically
enhanced laparoscopic surgical platform that allows the surgeon to be
patient-side within the sterile field.
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, 2014 and
subsequent filings with the 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 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.
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