TRXC - TransEnterix - Still A Great Short Opportunity With Bankruptcy The Most Likely Outcome
Shares of ailing, robotic surgery device developer TransEnterix (TRXC) rallied in Thursday's after hours session after the company provided a business update containing several important disclosures:
- The previously announced sales agreement for the company's AutoLap system with Great Belief International Limited ("GBIL") has been amended. Under the original transaction terms, TransEnterix was entitled to an aggregate $17 million in cash proceeds with $5 million payable until July 31 and the remaining $12 million by November 30. In addition, GBIL agreed to a $30 million investment in the company's common stock at a price