Agent H.C. Wainwright sells American Depositary Shares at $3.11 each
By Devika Patel
Knoxville, Tenn., May 28 - EDAP TMS SA said it has arranged a $9.33 million registered direct placement of ordinary shares in the form of American Depositary Shares.
The company will sell 3 million ADS at $3.11 apiece. The price per ADS reflects a 10.89% discount to the May 27 closing share price of $3.49.
H.C. Wainwright & Co., LLC is the agent.
Settlement is expected on June 3.
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: | $9.33 million
|
| Shares: | 3 million
|
| Price: | $3.11
|
| Warrants: | No
|
| Agent: | H.C. Wainwright & Co., LLC
|
| Pricing date: | May 28
|
| Settlement date: | June 3
|
| Stock symbol: | Nasdaq: EDAP
|
| Stock price: | $3.49 at close May 27
|
| Market capitalization: | $71.9 million
|
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