On Monday, in the course of current trade, Shares of TransEnterix, Inc. (NYSEMKT:TRXC), gained 0.66%, and is now trading at $3.04.
TransEnterix, declared the pricing of its underwritten public offering of 16,666,667 shares of its common stock at a public offering price of $3.00 per share for total gross proceeds of $50.0 million. TransEnterix has also granted the underwriters a 30-day option to purchase up to an additional 2,500,000 million shares of common stock.
Net proceeds from the sale of the shares, after deducting the underwriters’ discounts and other estimated offering expenses payable by TransEnterix, are predictable to be about $46.2 million. TransEnterix plans to use the net proceeds from this offering for research and development, sales, marketing, and commercialization related to its SurgiBot™ System, working capital and other general corporate purposes. The offering is subject to customary closing conditions and is predictable to close on Wednesday, June 17, 2015.
Stifel and RBC Capital Markets are acting as the joint book-running managers and Raymond James, BTIG and Ladenburg Thalmann are acting as co-managers for the offering.
TransEnterix, Inc., a medical device company, focuses on the development and commercialization of a robotic assisted surgical system in the United States and internationally. The company develops SurgiBot System, a single-incision, patient-side robotic-assisted surgery system.
During an Afternoon trade, Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL), dipped -1.01%, and is now trading at $14.15.
Marvell Technology Group, declared that Jazztel, a global telecommunications operator offering broadband solutions for voice and data traffic, internet and mobile telephony to the residential and corporate markets in Spain, will install a Marvell powered G.hn networking solution from Comtrend, a leading global provider of advanced networking solutions, to accelerate the deployment of their Fiber-To-The-Home (FTTH) network. Comtrend’s latest solution integrates Marvell’s 88LX3142 G.hn digital baseband processor and 88LX2718 G.hn analog front end. Since announcing its first product with Marvell silicon back in 2012, Comtrend has developed a great expertise with G.hn technology and its use cases which contributed to its nomination as Bronze Winner in the prestigious Best in Biz Awards late 2014 for its PowerGrid series, a product line designed to deliver seamless video streaming in all topologies and minimizing interference in high-density environments. Marvell’s award-winning G.hn chipset was selected again for its ITU-T standards-compliant and HomeGrid Forum-certified technology.
The Comtrend PowerGrid 9070, ITU-T G.hn standards compliant Powerline Ethernet Adapter with EU pass-through socket and G.hn Multiple Input/Multiple output (MIMO), provides the best quality data transmission for a truly high-speed connected home experience. It allows Jazztel’s subscribers to extend a local area network via existing power lines, eliminating the need for extra wiring between the ONT and the home gateway. Installation is quick and easy as the PowerGrid 9070 comes with plug-and-play technology. The PowerGrid 9070 is pre-configured allowing easy installation and it features secure end-to-end encryption algorithms for safeguarding the network integrity. It also supports advanced energy-saving features based on Ethernet link activity, with automatic standby mode.
Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers mobile and wireless products comprising communications and applications processors; thin modems; and connectivity solutions, counting Wi-Fi, Bluetooth, near field communication, and FM; and mobile computing products, in addition to silicon solutions and Kinoma software.
Finally, United Continental Holdings, Inc. (NYSE:UAL), lost -0.28% Monday.
United Airlines declared that the company will add 10 Embraer E175 aircraft to the United Express fleet, offering more customers greater comfort and convenience during their in-flight experience. Additionally, United anticipates that the airline or one of the carriers that operate as United Express will convert 18 more E175 aircraft to firm orders in the near term.
United anticipates deliveries of the aircraft will start next year and continue through the summer of 2017. The new aircraft will replace older, less-efficient 50-seat regional jets and are in addition to the 125 E175s whose deliveries began in 2014.
“Our customers tell us that they are thrilled with these modern, fuel-efficient aircraft,” said Ron Baur, United’s vice president of fleet. “The E175s are a great addition to the regional fleet and further align the United Express in-flight experience with our mainline service.”
United Continental Holdings, Inc., together with its auxiliaries, provides air transportation services in North America, the Asia-Pacific, Europe, the Middle East, Africa, and Latin America. It transports people and cargo through its mainline operations, which use jet aircraft with at least 118 seats, and its regional operations.
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