Robotic surgical firm TransEnterix wraps up $79M capital raise that hurt stock price

RESEARCH TRIANGLE PARK – Robotic surgical technology firm TransEnterix (TRXC) has completed a $79 million stock offering, one that also hurt its stock price.

TransEnterix sold $79.6 million in shares at $3 each to investors.

The offering announced last week sent shares plunging to $2.84 from $3.92 on Jan. 27.

Shares have since rallied and closed Feb. 1 at $3.26.

“The Company intends to use the net proceeds from the offering for general corporate purposes, including working capital, product development and capital expenditures,” TransEnterix said in a statement.