RTP-based medical device firm TransEnterix pulled off its $50 million stock offering and moved its shares to a different exchange on Tuesday.
The company expects to net $46 million from the transaction.
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 handled 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.
Shares closed at $4 Tuesday.
On March 7, TransEnterix filed a “shelf” registration with the SEC for up to $100 million in stock.
