MORRISVILLE – TransEnterix stock (Nasdaq:TRXC) rose more than 8 percent to $3.17 a share Thursday on new of its $40 million debt financing from Hercules Capital.
The refinancing gives the Morrisville-based company the ability to commercialize its Senhance surgical devices in the United States.
Hercules funded the first $20 million tranche on Wednesday. TransEnterix will be eligible to draw on the second tranche of $10 million upon achievement of certain Senhance System revenue-related milestones for its 2018 fiscal year.
A third tranche of $10 million would be available to the company upon achieving designated trailing six months GAAP net revenue from Senhance sales.