H.C. Wainwright sells American Depositary Shares, five-year warrants
By Devika Patel
Knoxville, Tenn., May 21 - EDAP TMS SA said it has arranged a $12 million registered direct placement of ordinary shares in the form of American Depositary Shares.
The company will sell 3 million ADSs at $4.00 apiece. The price per ADS reflects a 9.91% discount to the May 20 closing share price of $4.44.
Investors will also receive warrants for 1.5 million shares, which are each exercisable at $4.25 for five years. The strike price is a 4.28% discount to the May 20 closing share price.
H.C. Wainwright & Co., LLC is the agent.
Settlement is expected May 24.
Based in Lyon, France, EDAP focuses on its Ablatherm product, a high-intensity focused ultrasound treatment for prostate cancer.
| Issuer: | EDAP TMS SA
|
| Issue: | American Depositary Shares
|
| Amount: | $12 million
|
| Shares: | 3 million
|
| Price: | $4.00
|
| Warrants: | For 1.5 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $4.25
|
| Agent: | H.C. Wainwright & Co., LLC
|
| Pricing date: | May 21
|
| Settlement date: | May 24
|
| Stock symbol: | Nasdaq: EDAP
|
| Stock price: | $4.44 at close May 20
|
| Market capitalization: | $76.28 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
