Agent H.C. Wainwright sells American Depositary Shares through deal
By Devika Patel
Knoxville, Tenn., April 7 – EDAP TMS SA said it has arranged an $11.49 million registered direct placement of ordinary shares in the form of American Depositary Shares.
The company will sell 3,283,284 ADS at $3.50 apiece. The price per ADS reflects an 18.22% discount to the April 6 closing share price of $4.28.
The investors also will receive warrants for 3,283,284 shares, which are each exercisable at $4.50 for two years. The strike price is a 5.14% premium to the April 6 closing share price.
H.C. Wainwright & Co., LLC is the agent.
Settlement is expected April 14.
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: | $11,491,494
|
| Shares: | 3,283,284
|
| Price: | $3.50
|
| Warrants: | For 3,283,284 shares
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $4.50
|
| Agent: | H.C. Wainwright & Co., LLC
|
| Pricing date: | April 7
|
| Settlement date: | April 14
|
| Stock symbol: | Nasdaq: EDAP
|
| Stock price: | $4.28 at close April 6
|
| Market capitalization: | $99.15 million
|
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