TransEnterix Announces Equity Offering

Posted on December 28, 2018 by Medtech[y] Staff


Late Friday afternoon, TransEnterix announced they entered into an At-the-Market Equity Offering Sales Agreement with Stifel, Nicolaus & Company to offer and sell up to $75,000,000 of our common stock, $0.001 par value per share, offered by this prospectus supplement and the accompanying prospectus.

Terms of the Agreement

  • TransEnterix may offer and sell shares of their common stock at any time and from time to time through Stifel as the sales agent.
  • Sales of the common stock, if any, will be made at market prices by any method that is deemed to be an “at the market offering” as defined in Rule 415 under the Securities Act of 1933, as amended, or the Securities Act.
  • The aggregate compensation payable to Stifel shall be equal to 3.0% of the gross sales price of the shares sold through Stifel pursuant to the Sales Agreement.
  • In connection with the sale of the common stock on our behalf, Stifel will be deemed to be an “underwriter” within the meaning of the Securities Act and the compensation of Stifel will be deemed to be underwriting commissions or discounts.

Subject to the terms and conditions of the Sales Agreement, Stifel will use its commercially reasonable efforts consistent with its normal trading and sales practices to sell on the company’s behalf any shares to be offered by us under the Sales Agreement.

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