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<TITLE> TransEnterix, Inc. (Form: 8-K) </TITLE>
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		UNITED STATES<BR>
	SECURITIES AND EXCHANGE COMMISSION
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	WASHINGTON, D.C. 20549
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	FORM 8-K
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	CURRENT REPORT
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	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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	Date of Report (Date of Earliest Event Reported):
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	December 30, 2016
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	TransEnterix, Inc.
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<BR>__________________________________________<BR>
	(Exact name of registrant as specified in its charter)
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	Delaware
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	0-19437
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	11-2962080
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_____________________<BR>
	(State or other jurisdiction
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_____________<BR>
	(Commission
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______________<BR>
	(I.R.S. Employer
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	of incorporation)
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	File Number)
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	Identification No.)
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	635 Davis Drive, Suite 300, Morrisville, North Carolina
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	27560
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_________________________________<BR>
	(Address of principal executive offices)
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	&nbsp;
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___________<BR>
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	Registrant&#146;s telephone number, including area code:
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	919-765-8400
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	Not Applicable
<BR>______________________________________________<BR>
	Former name or former address, if changed since last report
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	&nbsp;
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:</FONT>
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[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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<P align="left" style="font-size: 10pt"><FONT style="font-size: 12pt"><B>Item&nbsp;1.01 Entry into a Material Definitive Agreement.</B>
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<P align="left" style="font-size: 12pt">TransEnterix, Inc., a Delaware corporation (the &#147;<U>Company</U>&#148;) is a party to that certain
Membership Interest Purchase Agreement, dated September&nbsp;18, 2015, with Sofar, S.p.A.
(&#147;<U>Sofar</U>&#148;), Vulcanos S.r.l., as the acquired company, and TransEnterix International, Inc.,
a wholly owned subsidiary of the Company, as Buyer (the &#147;<U>Purchase Agreement</U>&#148;) pursuant to
which TransEnterix International, Inc. acquired all of the membership interests of Vulcanos S.r.l.
from Sofar (the &#147;<U>Acquisition</U>&#148;). Under the terms of the Purchase Agreement, the
consideration consisted of the issuance of 15,543,413 shares of the Company&#146;s common stock (the
&#147;<U>Securities Consideration</U>&#148;) and approximately $25&nbsp;million U.S. Dollars and <FONT face="'Times New Roman',times,serif">&#128;</FONT>27.5&nbsp;million in
cash consideration (the &#147;<U>Cash Consideration</U>&#148;). The Securities Consideration was issued in
full at the closing of the Acquisition; the Cash Consideration was or will be paid in four
tranches.


<P align="left" style="font-size: 12pt">On December&nbsp;30, 2016, the Company entered into an Amendment to the Purchase Agreement (the
&#147;<U>Amendment</U>&#148;) to restructure the terms of the second tranche cash payment. Under the
Purchase Agreement, the second tranche of the Cash Consideration (the &#147;<U>Second Tranche</U>&#148;) was
to be payable after the achievement of both of the following milestones (i)&nbsp;the earlier of approval
from the FDA for the Senhance System (acquired in the Acquisition), or December&nbsp;31, 2016, and (ii)
the Company having cash on hand (which means cash and cash equivalents, as defined by US GAAP) of
at least $50&nbsp;million, or successfully completing a new financing or financings, raising at least
$50&nbsp;million in gross proceeds; with payment of simple interest at a rate of 9.0% per annum between
the achievement of the first milestone event and the payment date. Under the Amendment, the Second
Tranche was restructured to be paid as follows:


<P align="left" style="font-size: 12pt; text-indent: 4%">(A)&nbsp;Issuance of 3,722,685 shares of the Company&#146;s common stock with an aggregate fair market
value of Five Million Euro (<FONT face="'Times New Roman',times,serif">&#128;</FONT>5.000.000) or Five Million, Two Hundred Twenty-Six Thousand, Six
Hundred Fifty Dollars (US $5,226,650), based on an exchange rate of <FONT face="'Times New Roman',times,serif">&#128;</FONT>1 = $1.04533, as published on
December&nbsp;30, 2016 (the &#147;<U>Shares</U>&#148;). The price per Share is $1.404 and was calculated based on
the average of the closing prices of Company&#146;s common stock on ten consecutive trading days ending
one day before the execution of the Amendment; and


<P align="left" style="font-size: 12pt; text-indent: 4%">(B)&nbsp;Payment of Five Million Euro (<FONT face="'Times New Roman',times,serif">&#128;</FONT> 5.000.000) in cash upon the occurrence of any one of the
following events:



<P align="left" style="margin-left:4%; font-size: 12pt; text-indent: 4%">(1)&nbsp;receipt of clearance from the FDA for the Senhance System; or



<P align="left" style="margin-left:4%; font-size: 12pt; text-indent: 4%">(2)&nbsp;the Company having cash on hand (which means cash and cash equivalents, as defined
by US GAAP), at any time of at least Fifty Million Dollars (US $50,000,000), or



<P align="left" style="margin-left:4%; font-size: 12pt; text-indent: 4%">(3)&nbsp;successful completion of a new financing or financings by the Company and its
subsidiaries and its persons &#150; on a consolidated basis &#151; raising at least Fifty Million
Dollars (US $50,000,000) in gross proceeds to the Company and commenced after September
2015, exclusive of any financing proceeds related to the December&nbsp;2016 purchase agreement
between the Company and Lincoln Park Capital Fund,&nbsp;LLC.


<P align="left" style="font-size: 12pt">The Five Million Euro (<FONT face="'Times New Roman',times,serif">&#128;</FONT> 5.000.000) cash payment began to accrue simple interest at a rate of 9%
per annum beginning on December&nbsp;31, 2016 and will continue to accrue interest until paid in full.
Such payment will be due immediately upon the completion of one of the three events identified
above, except that the Company may, in its sole discretion, defer payment until December&nbsp;31, 2017
in the event that any of the three events occurs before December&nbsp;31, 2017.


<P align="left" style="font-size: 12pt">The Amendment reduces the cash payments to be made by the Company by Five Million Euro
(<FONT face="'Times New Roman',times,serif">&#128;</FONT>&nbsp;5.000.000), allowing the Company to conserve more of its available cash for working capital and
general corporate purposes. The Amendment contains customary representations and warranties of the
parties.


<P align="left" style="font-size: 12pt">The offer and sale of the Shares under the Amendment was made on January&nbsp;4, 2017 under the
Company&#146;s previously filed and currently effective Registration Statement on Form S-3 (File No.
333-199998). The issuance and sale of the Shares provides $5,226,650 in cash availability to the
Company by reducing the Cash Consideration owed to Sofar under the Purchase Agreement. The Company
intends to use its available cash for general corporate purposes, including working capital,
product development and capital expenditures.


<P align="left" style="font-size: 12pt">The Amendment is attached to this Current Report on Form 8-K as Exhibit&nbsp;10.1 and is incorporated
herein by reference. The foregoing description of the material terms of the Amendment is a summary
only and does not purport to be complete and is qualified in its entirety by, and should be read in
conjunction with, the exhibit attached hereto.&nbsp;&nbsp;


<P align="left" style="font-size: 12pt"><B>Item&nbsp;8.01 Other Events</B>


<P align="left" style="font-size: 12pt">On January&nbsp;5, 2017, the Company issued a press release announcing its entry into the Amendment and
Sofar&#146;s additional equity investment in the Company. The press release is attached hereto as
Exhibit&nbsp;99.1.


<P align="left" style="font-size: 12pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits</B>


<P align="left" style="font-size: 12pt">(d)&nbsp;Exhibits.


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    <TD width="1%" nowrap align="right">5.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Opinion of Ballard Spahr LLP</TD>
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    <TD width="1%" nowrap align="right">10.1</TD>
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    <TD>Amendment to Membership Interest Purchase Agreement by and among TransEnterix,&nbsp;Inc.,
TransEnterix International, Inc., and Sofar, S.p.A., dated December&nbsp;30, 2016</TD>
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    <TD>Consent of Ballard Spahr LLP (included in Exhibit&nbsp;5.1)</TD>
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    <TD width="1%" nowrap align="right">99.1</TD>
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    <TD>Press release, dated January&nbsp;5, 2017</TD>
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	SIGNATURES
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	Pursuant to the requirements of the Securities Exchange Act of 1934, the
	registrant has duly caused this report to be signed on its behalf by the
	undersigned hereunto duly authorized.
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	TransEnterix, Inc.
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<I>
	January 5, 2017
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	By:
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	/s/ Joseph P. Slattery
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	Name: Joseph P. Slattery
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	Title: EVP and CFO
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	Exhibit&nbsp;Index
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	Exhibit No.
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	Description
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	5.1
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Opinion of Ballard Spahr LLP
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	10.1
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	&nbsp;
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Amendment to Membership Interest Purchase Agreement by and among TransEnterix, Inc., TransEnterix International, Inc., and Sofar, S.p.A., dated December 30, 2016
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	99.1
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	&nbsp;
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Press release, dated January 5, 2017
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TransEnterix, Inc. (Form: 8-K)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
December 30, 2016
TransEnterix, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
Delaware
0-19437
11-2962080
_____________________
(State or other jurisdiction
_____________
(Commission
______________
(I.R.S. Employer
of incorporation)
File Number)
Identification No.)
635 Davis Drive, Suite 300, Morrisville, North Carolina
27560
_________________________________
(Address of principal executive offices)
___________
(Zip Code)
Registrant's telephone number, including area code:
919-765-8400
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Top of the Form
Item 1.01 Entry into a Material Definitive Agreement.
TransEnterix, Inc., a Delaware corporation (the "
Company
") is a party to that certain
Membership Interest Purchase Agreement, dated September 18, 2015, with Sofar, S.p.A.
("
Sofar
"), Vulcanos S.r.l., as the acquired company, and TransEnterix International, Inc.,
a wholly owned subsidiary of the Company, as Buyer (the "
Purchase Agreement
") pursuant to
which TransEnterix International, Inc. acquired all of the membership interests of Vulcanos S.r.l.
from Sofar (the "
Acquisition
"). Under the terms of the Purchase Agreement, the
consideration consisted of the issuance of 15,543,413 shares of the Company's common stock (the
"
Securities Consideration
") and approximately $25 million U.S. Dollars and
€
27.5 million in
cash consideration (the "
Cash Consideration
"). The Securities Consideration was issued in
full at the closing of the Acquisition; the Cash Consideration was or will be paid in four
tranches.
On December 30, 2016, the Company entered into an Amendment to the Purchase Agreement (the
"
Amendment
") to restructure the terms of the second tranche cash payment. Under the
Purchase Agreement, the second tranche of the Cash Consideration (the "
Second Tranche
") was
to be payable after the achievement of both of the following milestones (i) the earlier of approval
from the FDA for the Senhance System (acquired in the Acquisition), or December 31, 2016, and (ii)
the Company having cash on hand (which means cash and cash equivalents, as defined by US GAAP) of
at least $50 million, or successfully completing a new financing or financings, raising at least
$50 million in gross proceeds; with payment of simple interest at a rate of 9.0% per annum between
the achievement of the first milestone event and the payment date. Under the Amendment, the Second
Tranche was restructured to be paid as follows:
(A) Issuance of 3,722,685 shares of the Company's common stock with an aggregate fair market
value of Five Million Euro (
€
5.000.000) or Five Million, Two Hundred Twenty-Six Thousand, Six
Hundred Fifty Dollars (US $5,226,650), based on an exchange rate of
€
1 = $1.04533, as published on
December 30, 2016 (the "
Shares
"). The price per Share is $1.404 and was calculated based on
the average of the closing prices of Company's common stock on ten consecutive trading days ending
one day before the execution of the Amendment; and
(B) Payment of Five Million Euro (
€
5.000.000) in cash upon the occurrence of any one of the
following events:
(1) receipt of clearance from the FDA for the Senhance System; or
(2) the Company having cash on hand (which means cash and cash equivalents, as defined
by US GAAP), at any time of at least Fifty Million Dollars (US $50,000,000), or
(3) successful completion of a new financing or financings by the Company and its
subsidiaries and its persons – on a consolidated basis — raising at least Fifty Million
Dollars (US $50,000,000) in gross proceeds to the Company and commenced after September
2015, exclusive of any financing proceeds related to the December 2016 purchase agreement
between the Company and Lincoln Park Capital Fund, LLC.
The Five Million Euro (
€
5.000.000) cash payment began to accrue simple interest at a rate of 9%
per annum beginning on December 31, 2016 and will continue to accrue interest until paid in full.
Such payment will be due immediately upon the completion of one of the three events identified
above, except that the Company may, in its sole discretion, defer payment until December 31, 2017
in the event that any of the three events occurs before December 31, 2017.
The Amendment reduces the cash payments to be made by the Company by Five Million Euro
(
€
5.000.000), allowing the Company to conserve more of its available cash for working capital and
general corporate purposes. The Amendment contains customary representations and warranties of the
parties.
The offer and sale of the Shares under the Amendment was made on January 4, 2017 under the
Company's previously filed and currently effective Registration Statement on Form S-3 (File No.
333-199998). The issuance and sale of the Shares provides $5,226,650 in cash availability to the
Company by reducing the Cash Consideration owed to Sofar under the Purchase Agreement. The Company
intends to use its available cash for general corporate purposes, including working capital,
product development and capital expenditures.
The Amendment is attached to this Current Report on Form 8-K as Exhibit 10.1 and is incorporated
herein by reference. The foregoing description of the material terms of the Amendment is a summary
only and does not purport to be complete and is qualified in its entirety by, and should be read in
conjunction with, the exhibit attached hereto.
Item 8.01 Other Events
On January 5, 2017, the Company issued a press release announcing its entry into the Amendment and
Sofar's additional equity investment in the Company. The press release is attached hereto as
Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
5.1
Opinion of Ballard Spahr LLP
10.1
Amendment to Membership Interest Purchase Agreement by and among TransEnterix, Inc.,
TransEnterix International, Inc., and Sofar, S.p.A., dated December 30, 2016
23.1
Consent of Ballard Spahr LLP (included in Exhibit 5.1)
99.1
Press release, dated January 5, 2017
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
	registrant has duly caused this report to be signed on its behalf by the
	undersigned hereunto duly authorized.
TransEnterix, Inc.
January 5, 2017
By:
/s/ Joseph P. Slattery
Name: Joseph P. Slattery
Title: EVP and CFO
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Exhibit Index
Exhibit No.
Description
5.1
Opinion of Ballard Spahr LLP
10.1
Amendment to Membership Interest Purchase Agreement by and among TransEnterix, Inc., TransEnterix International, Inc., and Sofar, S.p.A., dated December 30, 2016
99.1
Press release, dated January 5, 2017