TransEnterix (NYSE:TRXC) said today it inked an at-the-market equity offering sales agreement to sell an aggregate of $50 million in shares of common stock with Stifel, Nicolaus & Co acting as the sales agent.
As part of the deal, Stifel will engage in selling shares on the company’s behalf, with Transenterix designating the maximum amount of shares to be sold on a daily basis or otherwise with the option to suspend the offering. Stifel will earn 3% of the aggregate gross proceeds from the sales, according to an SEC filing.
Stifel will also receive up to $50,000 for expenses in the offering, with total expenses for the company coming in at approximately $125,000.
The Research Triangle Park, N.C.-based company said that any sales of common stock will be made under a previously filed registration statement.
Early last month, TransEnterix saw its shares rise after the robotic surgical device maker met expectations on Wall Street with its 2nd quarter earnings results.