TransEnterix Disappoints Investors Again, Announces Stock Offering

Posted on September 04, 2019 by Medtech[y] Staff

We wrote an article a couple of weeks back stating that TransEnterix could jump significantly higher on any positive news, like a Senhance system sale.

Well, the alternative looks true as the company announced after the close that they have commenced a public offering of common stock.

TransEnterix intends to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering. All of the shares in the offering are to be sold by TransEnterix.

Cantor Fitzgerald & Co. is acting as sole book-running manager for the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

At the time of writing, the stock is down almost 10% in after-hours trading.

To say this company and management team is a disappointment is an understatement. They've continued to say they are close on closing system sales within the US but can never close the deal.

Are they really that close? Is there sincere interest from hospitals and physicians in the US? At this point, it's a fair question to know if investors and analysts are being misled about the interest level for Senhance.

Assuming the interest is what management has suggested, here's to hoping they hire more sales reps to get the word out there and close some deals because 15 sales reps around the country isn't going to cut it.

Are you an employee of TransEnterix? If so, stop by our TransEnterix employee forum and share your thoughts about the company and what's going on within the organization.

TranEnterix Employee Forum