The terms of the agreement state that the acquisition price will be paid in two tranches. TransEnterix paid $5.8 million to MST and in return received 3.15 million shares of the company’s common stock. One year after the closing date, TransEnterix has agreed to pay an additional $6.6 million, which will be payable in cash, stock or cash and stock.
TransEnterix and MST have also entered a Lock-Up Agreement that restricts MST from transferring the Securities Consideration for up to 18 months after the closing date. A Registration Rights Agreement also states that TransEnterix committed to register the Securities Consideration for resale once the lock-up period is over.
TransEnterix announced on Sept. 23 that it agreed to acquire Medical Surgery Technologies and its surgery planning technology.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.