TransEnterix Announces Closing of $79.6 Million Bought Deal Offering of Common Stock and Full Exercise of Option to Purchase Additional Shares
Proceeds from offering, in combination with recent financing activity, extends cash runway into 2024
The Company intends to use the net proceeds from the offering for general corporate purposes, including working capital, product development and capital expenditures.
The shares of common stock were offered pursuant to an effective registration statement on Form S-3 (File No. 333-236200) that was filed with the
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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Balance Sheet Update
The Company now believes that cash on hand, proceeds from its registered direct offering, which closed on
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 and our expected cash reach. 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