By Sheri Kasprzak
New York, July 27 - EDAP TMS SA has secured $7,452,989 from a private placement of American Depositary Shares.
A group of accredited investors agreed to buy 961,676 ADS at $7.75 each.
The deal is scheduled to close Aug. 3.
Proceeds will be used for marketing for the company's high-intensity focused ultrasound treatment for prostate cancer.
Based in Lyon, France, EDAP is a medical device company focused on minimally invasive products to detect diseases like cancer.
| Issuer: | EDAP TMS SA
|
| Issue: | American Depositary Shares
|
| Amount: | $7,452,989
|
| ADS: | 961,676
|
| Price: | $7.75
|
| Warrants: | No
|
| Announcement date: | July 27
|
| Settlement date: | Aug. 3
|
| Stock symbol: | Nasdaq: EDAP
|
| Stock price: | $10.41 at close July 26
|
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