Medical device co EDAP falls on equity offering

Edap Tms SA

23/04/2021 11:00

** U.S.-listed shares of EDAP TMS S.A.  EDAP.O  down ~12%
premarket after French medical device co prices follow-on
    ** EDAP offers 4.15 mln ADSs at $6.75, raises $28 mln
 urn:newsml:reuters.com:*:nGNE7bpMWq
    ** Offering prices at 20% discount to stock's last sale
    ** Co plans to use net offering proceeds to accelerate
adoption of its robotic High Intensity Focused Ultrasound (HIFU)
devices in U.S. for treatment of prostate cancer
    ** EDAP has 29.2 mln shares outstanding for roughly $250 mln
market cap, per Refinitiv data
    ** Piper Sandler sole bookrunner for offering
    ** Shares have gained 63% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))