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 the pricing of its previously announced underwritten public offering of 12.5 million shares of its common stock at a public offering price of $4.00 per share for total gross proceeds of $50.0 million. TransEnterix has also granted the underwriters a 30-day option to purchase up to an additional 1.875 million shares of common stock to cover over-allotments, if any.
TransEnterix is a developmental stage medical device company focused on the development of medical devices that manipulate tissues for the treatment of obesity, gastroesophageal reflux disease, hernia formation, esophageal obstructions, Barrett's Esophagus, upper gastrointestinal bleeding, and other intraperitoneal abnormalities through endoscopic and minimally invasive surgery. Co.'s products include: the AMID™ HFD stapler, which uses non-absorbable titanium staples to repair inguinal (groin) or ventral (abdominal) hernias; and SMART Dilator™, which is used when an endoscopy demonstrates the narrowing of the esophagus.
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