The offering involves the sale of 25 million shares of TransEnterix common stock at a purchase price of $1.25 per share. The surgical robotics company plans to use the funds for general corporate purposes, including working capital.
The news of the money-raise comes more than two months after TransEnterix reported Street-beating Q3 results. Despite headwinds from the COVID-19 pandemic, TransEnterix reported continued momentum in placement and procedures involving its Senhance system.
TransEnterix has made a push into augmented intelligence with Senhance, which boasts haptic feedback, surgeon camera control via eye sensing, and improved ergonomics.