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Stock Market & Financial Investment News

News Breaks
April 17, 2014
08:10 EDTTRXCTransEnterix initiated with a Buy at Sterne Agee
Target $6.
News For TRXC From The Last 14 Days
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September 30, 2015
17:22 EDTTRXCSOFAR S.p.A. reports 15.5% stake in TransEnterix
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September 22, 2015
06:29 EDTTRXCTransEnterix to host conference call
Conference call to discuss agreement to acquire ALF-X surgical robotic system will be held on September 22 at 8am. Webcast Link
September 21, 2015
19:03 EDTTRXCOn The Fly: After Hours Movers
HIGHER: Transenterix (TRXC), up 7.14% after acquiring the surgical robotics division of SOFAR S.p.A for $99.8M... Solera Holdings (SLH), higher by 3.56% after a report that IHS (IHS) is exploring a counteroffer for the company... Core-Mark Holding Company (CORE), up 3.93% after joining the S&P 600. DOWN AFTER EARNINGS: Thor Industries (THO), down 4.16%... ALSO LOWER: Memorial Resource Development Corp. (MRD), down 4.26% after filing to sell 10.25M shares of common stock... Intra-Cellular Therapies (ITCI), down 1.73% after filing to sell $300M of common stock... The J. M. Smucker Company (SJM), down 1.75% after filing to sell 8.28M shares of common stock for holders.
16:08 EDTTRXCTransEnterix acquires surgical robotics division of SOFAR S.p.A for $99.8M
TransEnterix announced that it has acquired the surgical robotics division of SOFAR S.p.A., an Italian health care company, in a cash and stock transaction with total consideration of $99.8M. SOFAR has developed the TELELAP ALF-X advanced robotic system for minimally invasive surgery, which has an active CE Mark. TransEnterix acquired from SOFAR all of the intellectual property and other assets, employees and contracts related to the advanced robotic system for minimally invasive laparoscopic surgery known as TELELAP ALF-X. At the closing of the Acquisition Transaction, SOFAR received $25M in cash and 15,543,413 shares of TransEnterix common stock with a value of $43.7M, based on the closing price of $2.81 as of September 18, 2015. The agreement also provides for up to $31.1M in remaining cash consideration to be paid in three additional tranches based on the achievement of negotiated milestones. In connection with the Acquisition Transaction, SOFAR entered into a lock-up agreement with TransEnterix pursuant to which SOFAR agreed, subject to certain exceptions, not to sell, transfer or otherwise convey any of the shares issued for one year following the closing date of the acquisition. The shares will be released between the first and second anniversaries of the closing of the Acquisition Transaction. TransEnterix also entered into a Registration Rights Agreement with SOFAR, pursuant to which TransEnterix agreed to register SOFAR's shares for resale, subject to the lock-up provisions.

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