TransEnterix Wins Back Investors with Asset Sale
TransEnterix investors got a little spooked in the first half of 2019, but the company's recent asset sale was rewarded with a stock spike nearly 26% on Wednesday.Â
5 Quick Bits About TransEnterix Stock Movement on Wednesday (July 10, 2019)
Stock symbol: TRXC on the New York Stock Exchange
Day's price range:Â $1.27 to $1.94
52-week stock price range: $1.03 to $6.98
Wednesday's trading volume: 14.03 million shares
Average trading volume: $2.55 million shares
TransEnterixÂ
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RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--
TransEnterix, Inc. (NYSE American:TRXC), a medical device company that is digitizing the interface between the surgeon and the patient to improve minimally invasive surgery, today announced the sale of certain AutoLap® image-based laparoscope positioning system (AutoLap) assets to Great Belief International Limited (GBIL), for total proceeds of $47.0 million.
The total proceeds to be paid to the Company for the AutoLap product and intellectual property assets is $17 million, payable in the amount of $5 million by July 31, 2019 and $12 million by November 30, 2019. In addition, GBIL is making an equity investment of $30.0 million in TransEnterix common stock at $2.00 per share, payable on or before September 30, 2019. As a part of the sale agreement, the Company retains ownership of the broader intellectual property portfolio it acquired from M.S.T. - Medical Surgery...
Source: MDDI - Category: Medical Devices Authors: Amanda Pedersen Tags: Business Source Type: news
More News: China Health | Grants | Laparoscopy | Medical Devices | Mergers and Aquisitions | Minimally Invasive Surgery