TransEnterix - Still A Great Short Opportunity With Bankruptcy The Most Likely Outcome [Seeking Alpha]
TRANSENTERIX (TRXC)
NASDAQ:AMEX Investor Relations:
ir.transenterix.com
Company Research
Source: Seeking Alpha
TransEnterix - Still A Great Short Opportunity With Bankruptcy The Most Likely Outcome Summary Ailing robotic surgery device developer provides a major business update. AutoLap has been revised with the purchase price remaining unchanged but the proposed equity investment being cancelled. Even when adjusting for the $17 million in anticipated AutoLap sales proceeds, without raising additional capital, liquidity will likely run out at the end of Q1/2020. Preliminary Q3 results will fall well short of consensus expectations, company to implement a restructuring plan and has retained J.P. Morgan to explore strategic alternatives. CFO resigned. Company likely to end up in bankruptcy. Investors should consider selling existing positions into strength or outright shorting the stock. Shares of ailing, robotic surgery device developer TransEnterix ( TRXC Picture: Senhance System - Source: Company Website Frankly speaking, there's very little to cheer about in this update. Granted, the
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