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.  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: $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 TransEnterix    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: Tags: Business Source Type: news