TransEnterix (NYSE:TRXC) announced today that it priced its previously announced common stock offering at approximately $13 million.
Research Triangle Park, N.C.-based TransEnterix is offering nearly 37.3 million shares of common stock at a public offering price of 35¢ per share to total the $13 million in proceeds, before deducting underwriter discounts and commissions and expenses payable by the company, according to a news release.
TransEnterix expects the offering to close on or about July 6, subject to customary closing conditions. The surgical robotics company also granted the underwriter a 45-day option to purchase up to nearly 5.6 million additional common stock shares at the public offering price.
All the shares in the offering are being sold by TransEnterix, which currently intends to use the net proceeds for general corporate purposes, including working capital. Ladenburg Thalmann & Co. is acting as sole book-running manager in connection with the offering.