EDAP TMS SA to Raise $5.625 Million in Registered Direct Offering
EDAP TMS SA (Nasdaq: EDAP) announced that it has entered into definitive agreements with certain institutional investors for a registered direct placement of $5.625 million of ordinary shares in the form of American Depositary Shares ("ADSs") at a price of $2.00 per share, with warrants attached.
The warrants issued to the investors will allow them to purchase up to 1,406,250 ordinary shares. The warrants have an exercise price of $2.75 per share and are immediately exercisable for a period of five years. The offering is expected to close on or about March 28, 2012, subject to satisfaction of customary closing conditions.
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