SEC Contract Filing

Filing Date: 2020-02-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>trxc-formofseriesbwarr.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="sE14568ADBFD023E4371B7A0D3C94DDB5"></a></div><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.1</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SERIES B WARRANTS EXCHANGE AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THIS SERIES B WARRANTS EXCHANGE AGREEMENT (this &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is made as of February 24, 2020 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Effective</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;), by and between TransEnterix, Inc., a Delaware corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;),</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;">and those certain holders of Series B Warrants set forth on the signature pages hereto (each, a &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Holder&#8221; </font><font style="font-family:inherit;font-size:12pt;">and collectively, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Holders</font><font style="font-family:inherit;font-size:12pt;">&#8221;). The Company and the Holders are referred to, each as a &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Party</font><font style="font-family:inherit;font-size:12pt;">,&#8221; and collectively as the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Parties</font><font style="font-family:inherit;font-size:12pt;">.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">RECITALS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, as of the date of this Agreement, the Holders hold an aggregate of 3,</font><font style="font-family:inherit;font-size:12pt;">638,781</font><font style="font-family:inherit;font-size:10.5pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;">Series B Warrants (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Warrants</font><font style="font-family:inherit;font-size:12pt;">&#8221;), which are exercisable for an aggregate of 2,200,983 shares of the Company&#8217;s common stock, par value $0.001 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Common Stock</font><font style="font-family:inherit;font-size:12pt;">&#8221;) if all Warrant Holders accept this offer, and which are more particularly identified on </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule A</font><font style="font-family:inherit;font-size:12pt;">&#32;attached hereto; and </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, subject to the terms and conditions set forth herein, the Company and the Holders desire to cancel and retire the Warrants, in exchange for an aggregate of 2,200,983 shares of the Common Stock if all Warrant Holders accept this offer (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exchange</font><font style="font-family:inherit;font-size:12pt;">&#8221;) at a conversion rate of 0.61 of a share of Common Stock for each Warrant (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exchange Rate</font><font style="font-family:inherit;font-size:12pt;">&#8221;). </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby agreed and acknowledged, the Parties hereby agree as follows: </font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">AGREEMENT</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Securities Exchange. </font><font style="font-family:inherit;font-size:12pt;">Subject to the terms and conditions hereof, each Holder agrees to deliver and surrender to the Company fo