TransEnterix raises more than $31M in stock offering

TransEnterix (NYSE:TRXC) announced today that it has raised $31.25 million from several institutional investors in a […]

TransEnterix (NYSE:TRXC) announced today that it has raised $31.25 million from several institutional investors in a direct offering of common stock.

The offering involves the sale of 25 million shares of TransEnterix common stock at a purchase price of $1.25 per share. The surgical robotics company plans to use the funds for general corporate purposes, including working capital.

The news of the money-raise comes more than two months after TransEnterix reported Street-beating Q3 results. Despite headwinds from the COVID-19 pandemic, TransEnterix reported continued momentum in placement and procedures involving its Senhance system.

TransEnterix has made a push into augmented intelligence with Senhance, which boasts haptic feedback, surgeon camera control via eye sensing, and improved ergonomics.

Original Article: (https://www.massdevice.com/transenterix-raises-more-than-31m-in-stock-offering/)