RTP-based medical device firm TransEnterix is moving ahead with plans to raise as much as $50 million through a stock offering. A new filing with the SEC shows that shares will become available today.
The capital raising effort is the latest in a series of moves by TransEnterix to grow the company and to raise funding for a new robotic surgery device. Over time, TransEnterix could raise as much as $100 million.
Stifel and RBC Capital Markets are handling the offering. Ladenburg Thalmann and Raymond James are also involved as co-managers.
The sale comes after CEO Todd Pope said he would move the company to the New York Stock Exchange MKT and engineered a reverse 1-for-5 stock split.
That moved lifted TRXC shares to $9.70 per share.
TransEnterix continues to trade over-the-counter but should move to the NYSE MKT exchange in the next three weeks, according to the company.
Shares closed Tuesday at $1.90.
On March 7, TransEnterix filed a “shelf” registration with the SEC for up to $100 million in stock.
